The fund house launches its ETF business under Edelweiss Exchange-traded Schemes (EES) umbrella.
Edelweiss Mutual Fund has launched its first ETF called Edelweiss Nifty EES which will mimic CNX Nifty, according to a press release issued by the company.
This is the first product launched under the Edelweiss Exchange-traded Schemes (EES) umbrella.
The unique thing about this ETF is that the price of the ETF will be similar to the actual price of the underlying index, and not at a fraction of what it is currently being offered at, states the press release issued by the company.
Vikaas M Sachdeva, CEO, Edelweiss MF said, “The Indian ETF industry is currently at an inflection point. With increasing interest from the institutional players, as well as the government’s stated intent to use ETFs as a disinvestment vehicle, we believe that the industry is set to grow exponentially in the years to come. We are excited about the opportunities this segment provides and therefore treat it as a separate business line, instead of an additional product”
ETFs, which track the equity indices, are increasingly getting popular among retail investors. Folio count in this category has risen by 39,430 from 1.94 lakh to 2.33 lakh in FY 2014-15. ETFs currently manage Rs. 8,060 crore.
