DSP MF launches its IT ETF

DSP Mutual Fund has launched DSP Nifty IT ETF, an open-ended ETF replicating the Nifty IT index.

The company says that the Nifty IT index has outperformed Nifty 50 on a rolling return basis across 1 year, 3 year, 5 year and 10-year timeframe.

In a press release, Anil Ghelani, Head – Passive Investments & Products, DSP Mutual Fund said, “The Indian IT sector has been a consistent performer in the long term thanks to the global competitiveness and edge that they possess which also bodes well for the foreseeable future. Investors looking to benefit from this long-term growth story may consider investing in the Nifty IT index which is interestingly poised after underperforming in the recent past. We believe that at current levels, valuations are approaching average multiples and many companies in this sector appear financially healthier and relatively cheaper when compared to global IT peers.”