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Taiwan's first-ever exchange traded funds (ETFs) tracking the burgeoning Indian market debuted on the Taiwan Stock Exchange (TWSE) on March 29.
The three ETFs--the Fubon NIFTY ETF, Fubon NIFTY 2X Leveraged Index ETF and Fubon NIFTY-1 Inverse Index ETF were issued by Fubon Asset Management. They track the Nifty 50 Index, Nifty PR 2X Leverage Index and Nifty PR 1X Inverse index respectively.
The launch of the three Nifty based ETFs in Taiwan Stock Exchange will provide investors with more strategic options to hedge risk and enrich their investment portfolio.
With this launch, ETFs based on NIFTY family of indices are now available for trading in 19 exchanges across the world.
Sush-Der Lee, Chairman of TWSE, said that TWSE was committed to deepening the cooperation between Taiwan and India, as well as other markets, to provide more diversified products for investors.
Gang Shyy, Chairman of Fubon Asset Management, said that India is rising strongly with a positive combination of being in the right time and place, with the right people.
India is the third largest market in Asia in terms of market value and trading volume.
Although there are structural problems in India, it is emerging as an important market for risk diversification in terms of investment from Greater China, he said.
Mukesh Agarwal, CEO of India Index Services and Products (IISL), said that listing of Nifty 50 based ETFs in Taiwan will ensure that investors in Taiwan can participate in the India growth story.
IISL--which created and maintains the three NIFTY indices tracked by three Fubon ETFs--is a group company of National Stock Exchange.
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