Exchange-traded funds (ETFs) don’t have many takers in India though they are popular in developed economies. One big reason: most actively managed funds offer much higher returns. Edelweiss Asset Management has launched a new ETF that has the potential to reverse the trend, according to the company.
Opened for subscription until May 20, Edelweiss ETF – Nifty Quality 30 doesn’t replicate the regular indices such as Nifty 50 or the Sensex. Instead, this fund tracks a strategy index called Nifty Quality 30, developed and maintained by National Stock Exchange’s subsidiary India Index Services & Products Limited. The index constitutes 30 companies, which are selected based on return on equity (ROE), debt-to-equity ratio and average change in profit after tax in previous three financial years.
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