India has the world’s second-fastest growing exchange traded funds (ETF) market, behind only Japan, with assets more than doubling to $4 billion from $1.9 billion in the past three years, a Bloomberg Intelligence report said.
“While that’s mostly due to greater adoption of ETFs to gain low-cost market exposure, about a third of the boost came via the Reliance Mutual Fund’s CPSE ETF,” the report added.
The CPSE ETF was launched by Goldman Sachs Asset Management India on 18 March 2014, and comprises 10 stocks, which are majority-owned by the Indian government: Oil and Natural Gas Corp. Ltd, GAIL (India) Ltd, Coal India Ltd, Rural Electrification Corp. Ltd, Oil India Ltd, Indian Oil Corp. Ltd, Power Finance Corp. Ltd, Container Corp. of India Ltd, Bharat Electronics Ltd and Engineers India Ltd.
