Sumary of Mirae Asset launches ETF tracking Nifty financial services index:
- Ltd on Thursday launched India’s first exchange-traded fund (ETF) tracking Nifty financial services index that will provide exposure to 20 companies representing various segments of the financial services sector.
- The new fund offer for Mirae Asset Nifty Financial Services ETF will close for subscription on 29 July.
- The scheme is an open-ended one replicating or tracking Nifty Financial Services Total Return Index.
- The financial services sector encompasses not only banks but other industries such as NBFCs (non-banking financial companies), insurance and capital markets, among others.