Edelweiss MF in lead for govt's debt ETF on group backing, lower fee

Unlike other recent ETFs such as the CPSE ETF or Bharat 22-ETF, proceeds from the debt ETF will not directly flow into the government's kitty

Edelweiss Mutual Fund (MF)  has emerged as the front-runner in the bid to manage India’s first debt exchange traded fund (ETF), which will have a portfolio of debt papers of the central public sector entities. 

Edelweiss MF is awaiting written confirmation from the government and declined to comment.

Other bidders in the fray were Reliance MF, SBI MF, UTI MF and Aditya Birla Sun Life MF. While the four have had a longer track record in the MF business and experience across product categories, people in the know said the combination of a small fee and strong parent group