Government sets up 2nd ETF 'Bharat 22'
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.