At a glance
- SGX said on Nov. 12 it is the first SGX-listed ETF to use the Variable Capital Company structure to invest directly in an India-domiciled ETF, according to ETF Express.
- For advisors, the listing puts Nifty 50 exposure on the local exchange in the currency a client reports in.
- Ng Yao Loong, head of global financial markets at SGX Group, said: “Investors in Singapore want India equity exposure that is simple to access and liquid to trade.”
UTI International (Singapore) has listed the UTI India Nifty 50 Index ETF on SGX, where it trades in Singapore dollars under the code NIF and in US dollars under NIU.
SGX said on Nov. 12 it is the first SGX-listed ETF to use the Variable Capital Company structure to invest directly in an India-domiciled ETF, according to ETF Express. The fund tracks the Nifty 50 Index, the 50 largest and most liquid companies listed on the National Stock Exchange of India.
For advisors, the listing puts Nifty 50 exposure on the local exchange in the currency a client reports in. The VCC wrapper holds an India-domiciled fund rather than the 50 stocks directly, an indirect route SGX describes as established and liquid.
Ng Yao Loong, head of global financial markets at SGX Group, said: “Investors in Singapore want India equity exposure that is simple to access and liquid to trade.”
SGX now offers 65 ETFs across asset classes and markets, with total assets under management of approximately SGD20 billion.
Investors in Singapore want India equity exposure that is simple to access and liquid to trade.Ng Yao Loong, head of global financial markets at SGX Group
Reported by the Launches desk from ETF Express. Published . Corrections