FM Arun Jaitley announces new Exchange-traded fund, Bharat-22

By: |
New Delhi | Updated: August 4, 2017 5:20:23 PM

Finance Minister Arun Jaitley today announced creation of a new exchange-traded fund (ETF) -- Bharat-22 -- that will comprise shares of 22 central public sector enterprises, state-owned banks and some holding in SUUTI.

new etf, bharat 22, arun jaitley, suuti, what is bharat 22, biggest etf announcementUnion Finance Minister Arun Jaitley. (PTI)

Finance Minister Arun Jaitley today announced the creation of a new exchange-traded fund (ETF) — Bharat-22 — that will comprise shares of 22 central public sector enterprises, state-owned banks and some holding in SUUTI. Bharat-22 will cover six sectors, he told reporters here. It will feature four banking stocks — SBI, Axis Bank, Bank of Baroda and Indian Bank — other than CPSEs such as Nalco, ONGC, IOC, BPCL and Coal India.

Read full story: Government launches new PSU ETF Bharat-22 in a boost to disinvestment drive

Also read: What is Bharat-22? How is it different from CPSE ETF?

Besides, there will be nine other PSUs as well as REC and PFC. SUUTI’s holding in ITC has also been included. Ninety per cent of the equities included are traded in futures. ICICI Prudential is the fund manager.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition