India’s 50 most liquid NSE-listed companies can be traded in SGD-USD
SGX Stock Exchange said the UTI India Nifty 50 Index ETF, launched on the Singapore bourse on 12 Nov, offers investors convenient access to India’s equity market through one of the country’s most widely recognised large-cap benchmarks.
Managed by UTI International (Singapore), the ETF tracks the Nifty 50 Index which comprises 50 of India’s largest and most liquid companies listed on the National Stock Exchange of India (NSE). It is the first SGX-listed ETF to use the Variable Capital Company (VCC) structure to invest directly in an India-domiciled ETF, giving investors access to India’s large caps through an established and liquid fund.
The ETF can be traded in both SGD and USD, under the trading codes NIF and NIU respectively.
Ng Yao Loong, Head of Global Financial Markets, SGX Group, said, “Investors in Singapore want India equity exposure that is simple to access and liquid to trade. Through the VCC structure, this ETF gives them the Nifty 50 on SGX, in SGD or USD, backed by liquidity of the India-domiciled fund. It also broadens the India-linked products investors can access through SGX. We are pleased to work with UTI International on this listing.”
Jermyn Wong, Chief Executive Officer, UTI International (Singapore) Private Limited, said, “The listing of Singapore’s first Nifty 50 ETF marks a new chapter in India-Singapore market connectivity. As a leading Indian asset manager, UTI is proud to bring to market another innovative product, providing our investors with more solutions to access India.”
Following this listing, SGX said it offers 65 ETFs across asset classes and markets, with total assets under management of approximately S$20 billion. Fiinews.com
