Edelweiss MF will launch the two series of Bharat Bond ETF with an aim to raise Rs.14,000 crore. Close to 25% is reserved for retail investors and 75% for retirement funds, QIBs and non-institutional investors.
While the first series will come with maturity of April 2025, the second series will mature on 2031. Both ETFs will invest in AAA rated public sector companies. Subsequently, BHARAT Bond Fund of Funds (FOF) with similar maturities will also be launched for investors, who do not have demat accounts.
The NFO of the ETF will start from July 14 and end on July 17, 2020.
Radhika Gupta, CEO, Edelweiss Mutual Fund said, “This series will see two more new ETFs maturing in 2025 and 2031 namely BHARAT Bond ETF April 2025 and BHARAT Bond ETF 2031 being launched. With this, BHARAT Bond ETFs will have four maturity points on the yield curve – 2023, 2025, 2030 and 2031. In future, we will launch more ETFs and fill the remaining maturities.”
