Edelweiss Asset Management appointed manager of upcoming debt ETF

Edelweiss Asset Management Ltd (EAML) on Monday said it has been appointed the asset manager for the proposed Debt Exchange Traded Fund (Debt ETF), catering to the borrowing needs of CPSEs and other public sector entities.

With a large, qualified investment team and expertise across the fixed income spectrum, EAML has won the mandate and will launch the Debt ETF in the coming months. The Debt ETF would be a one-of-its-kind product that could be a better alternative to fixed deposits and other traditional small savings investments.

It may be recalled that the Department of Investment and Public Asset Management (DIPAM) had invited proposals to create, manage and launch the debt exchange-traded fund.

On achieving the milestone, Radhika Gupta, CEO, Edelweiss Asset Management said, “We are very excited about this opportunity to launch India’s maiden Debt ETF focused on CPSEs and PSUs. Our endeavour is to launch an innovative product that will help retail and institutional investors increase their participation in the bond market, particularly retail investors whose participation is relatively small in debt mutual funds. Our focus will be to bring to market a product that is easy to understand, has the liquidity of ETFs and is tax efficient.”

Edelweiss Asset Management continues its business expansion with a constant focus on providing innovative and customer friendly investment solutions, she said. The Debt ETF mandate is an important step in expanding and scaling the fixed income business of the AMC, according to Gupta.

srivats.kr@thehindu.co.in .

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