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Edelweiss Mutual Fund has launched Edelweiss BSE Internet Economy Index Fund, an open-ended index fund replicating the BSE Internet Economy Total Return Index.
Currently, the index comprises the top 20 companies selected from the BSE 500 based on their six-month average market capitalisation.
The index spans 11 sub-industries, including e-retail, internet and catalogue retail, e-learning, digital entertainment, financial technologies and other digitally driven sectors, offering investors targeted exposure to internet-led growth story.
Moreover, the index consists only of Internet Economy-linked stocks, having no allocation towards IT and software companies, making it a pure play for investors who want to invest in businesses that are aligned towards India’s digital and internet economy.
In a press release, Radhika Gupta, MD & CEO, Edelweiss Mutual Fund, said, "India’s digital economy is growing 4X times faster than its overall GDP, and is expected to achieve rapid and transformative growth. With increasing internet penetration and tech adoption across sectors, we see a compelling opportunity for investors to participate in this digital revolution. The Edelweiss BSE Internet Economy Index Fund is a one-of-its-kind offering that allows investors an opportunity to invest in a pure play internet and digital economy focused portfolio.”
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