News From Press Concentrated portfolio of bank ETFs under Sebi lens

Concentrated portfolio of bank ETFs under Sebi lens

Source: Business Standard Mar 25, 2017

The Securities and Exchange Board of India (Sebi) is looking at the diversification risk from bank exchange-traded funds (ETFs) investing in stocks of the banking indices of the two major bourses. Of a total of 12 banking scrips in the National Stock Exchange's Nifty Bank index, three — HDFC Bank, ICICI and Kotak Mahindra — contribute 45 per cent to the index weight. The bottom five contribute five per cent. Similarly, for the BSE exchange's Bankex, the top five out of 10 stocks contribute four-fifths to the weight.

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