Reliance MF in a tie up with ETF Securities, Australia has launched the first Indian ETF in Australia, said the fund house in a press release.
The ETF was listed on the Australian Securities Exchange on Thursday, with the code NDIA. It tracks India’s NIFTY 50 Index. Australian investors will get an opportunity to invest in India through the ETF.
Reliance MF’s ED & CEO, Sundeep Sikka, said his company was delighted to collaborate with ETF Securities in order to provide advisory services for allowing Australian investors to participate in the India growth story. “NDIA will provide Australian investors access to the Nifty 50 Index which has been the torch bearer of Indian equities for the last 25 years and is considered to be ‘the Stock of the Nation,’” he added.
Talking about the launch, Kris Walesby, Head of ETF Securities Australia said, “India has been the most dynamic economic growth story globally, but, until now, it has been difficult for investors globally to access it. This product offers investors the chance to gain exposure to a $US2.6 trillion economy that still has tremendous potential to grow as India reaps the benefits of structural reforms.”
