Gov­ern­ment sets up 2nd ETF 'Bharat 22'

India Business Journal - - NEWS ROUND-UP -

The gov­ern­ment has an­nounced launch of its sec­ond ex­change-traded fund (ETF), Bharat 22. The ETF will com­prise 22 stocks, in­clud­ing those of Cen­tral public sec­tor en­ter­prises, public sec­tor banks and its hold­ings un­der the Spec­i­fied Un­der­tak­ing of Unit Trust of In­dia. The fund will have a di­ver­si­fied portfolio of com­pa­nies from six sec­tors with a 20 per cent cap on each sec­tor and a 15 per cent cap on each stock. The gov­ern­ment has raised Rs 8,500 crore through its first ETF launched in March 2014.

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