Mumbai, July 21 (IANS): The National Stock Exchange (NSE) on Thursday said total Asset under Management (AUM) of the Nifty 50 ETFs (Exchange Traded Funds) has surpassed the Rs 10,000 crore mark.
"India is catching up with the global trend in ETF segment, where ETF industry is worth $3.2 trillion as on June 30, 2016. We are pleased to see a surge in investors' interests in ETF products," said NSE MD and CEO Chitra Ramkrishna.
India's first ETF, or group of securities which are traded like individual stocks on an exchange, and can track equity indices, bonds, commodities etc, was launched in December 2001 and based on Nifty 50. Currently, there are 13 ETFs on the index listed in India. A total of 35 out of 45 equity ETFs traded in India are benchmarked to Nifty family of indices, the exchange said in a statement.
There is a good demand for Nifty 50 ETF amongst issuers in the international markets also. it added.
"India specific products tracking Nifty indices are very popular among the global investors. In the past one year, we have seen very strong demand for Nifty 50 based products in Asian countries including Korea, Taiwan, Japan and Hong Kong," said NSE's group company, IISL's CEO Mukesh Agarwal.
ETFs covering Nifty family of indices are traded in 19 exchanges covering 16 countries.