HDFC AMC lists FTSE India Equity ETF on NSE
HDFC AMC just rolled out its new HDFC FTSE India Equity ETF on the National Stock Exchange of India (NSE).
This fund is designed to mirror the FTSE India Equity Index (Total Return Index), covering approximately 90% of the market capitalisation of the FTSE India All Cap Index through a hands-off, passive approach.
Navneet Munot says Indian markets evolving
Big names like HDFC AMC Managing Director and CEO Navneet Munot, Nico Boulay, Head of Asia at FTSE Russell, and NSE Managing Director and CEO Ashishkumar Chauhan showed up for the listing.
Munot pointed out how India's markets are evolving, and more investors want broader equity options.
The ETF is marked "Very High Risk" by the Securities and Exchange Board of India (SEBI) and seeks returns commensurate with the FTSE India Equity Index over the long term, subject to tracking error, so it's meant for those willing to ride out market ups and downs.