A new exchange traded fund (ETF) based on Nifty stocks will be listed on the Korea stock exchange.
National Stock Exchange (NSE) arm India Index Services and Products Ltd (IISL) today said it will be listing a new Nifty-based ETF in Korea.
The new ETF, launched by Mirae Asset Global Investments, tracks Nifty50 2x Leverage Index and would be traded on the Korea Exchange (KRX).
"The product would help offshore investors access India, which is the world's fastest growing economy and is expected to complement their investment portfolio," IISL said in a statement today.
Nifty50 2x Leverage Index is created and maintained by IISL.
"By the listing of second Nifty-based ETF in Korea, it is evident that the investors are optimistic to take part in the India growth story through new and innovative products," IISL CEO Mukesh Agarwal said.
"There are 10 international ETFs and 34 domestic ETFs based on Nifty indices, which shows the widespread acceptability of Nifty indices," he added.
Nifty, NSE's flagship index, is used extensively by investors in India and around the world as a barometer of the country's capital markets.
