Comments
Asset management company Edelweiss is adding exchange-traded funds to its list of products, called the Edelweiss Exchange-traded Schemes (EES).
Its first ETF product is the NIFTY EES, benchmarked on the CNX Nifty, and will track the index movements. The Edelweiss intends to price its Nifty ETF to match the actual price of the Nifty. Edelweiss believes the Nifty EES is better suited, according to Sachdeva, for ‘savvy investors’ who know when to enter and exit the market, while passive investors are better off with an index fund. The offer opens on April 24 and closes on May 5. The minimum application amount is ₹10,000.
Vikaas M Sachdeva, CEO, Edelweiss AMC, said, “With increasing interest coming in from the institutional players, as well as the government’s stated intent to use ETFs, we believe that the industry is set to grow exponentially.”
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.