UTI -Nifty Exchange Traded Fund (UTI-Nifty ETF) has started trading on National Stock Exchange (NSE) from today.
It was celebrated with an opening bell ceremony at the NSE by Leo Puri, MD, UTI AMC and Ravi Varanasi, Chief Business Development, NSE, as stated in the press release issued by the company.
The NFO of UTI Nifty ETF opened on August 24, 2015 and was closed on August 26, 2015. The investment objective of the scheme is to provide returns that, before expenses, closely correspond to the total returns of the securities as represented by the underlying index, subject to tracking error.
Leo Puri said, “Equity ETFs are an essential part of the core portfolio for both retail investors as well as Institutions. Trading of ETFs provides instant liquidity to the investors at real time market prices. Investors can buy and sell ETFs from the exchange at any given point of time. ”
UTI Nifty Exchange Traded Fund will invest in securities which are constituents of CNX Nifty Index and in Money Market Instruments in accordance with the asset allocation pattern.
