Global investment manager VanEck has filed a preliminary prospectus with US Securities Exchange Commission for VanEck Digital India ETF.

According to the filing, VanEck Digital India ETF seeks to track, as closely as possible, before fees and expenses, the price and yield performance of the MVIS (Digital India) Index.

The Fund normally invests at least 80 per cent of its total assets in securities that comprise the Fund’s benchmark index.

Index criteria

The Index includes equity securities of companies involved in supporting the digitalisation of the Indian economy.

To be eligible, companies must be domiciled, headquartered, or incorporated in India and generate at least 50 per cent of their revenues from one or more of the following categories: software, hardware, information technology services and consulting, communications equipment, telecommunication services, internet applications, e-commerce sites including financial services and electronic payment processing.

In addition, Indian companies that are ranked within the top 10 telecommunication services companies by annual revenue are also eligible for inclusion in the Index.

The Index is published by MV Index Solutions GmbH, a wholly owned subsidiary of the VanEcK Associates. It is reconstituted and rebalanced quarterly, the document said.

Peter H Liao and Guo Hua will be the fund managers of VanEck Digital India ETF.