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NSE says 7 passive funds tracking Nifty indices launched in Japan, Korea

At present, there are 21 passive funds tracking Nifty Indices outside India. In addition, there are 270 passive funds tracking various Nifty Indices in India

NSE, Stock market

Of these, six products are tracking Nifty 50 and one product is tracking Nifty50 2x leverage index. (Photo: Bloomberg)

Press Trust of India New Delhi

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The National Stock Exchange (NSE) on Wednesday said seven passive funds tracking Nifty Indices have been introduced in Japan and Korea this year, suggesting a strong demand from global asset managers for launching such India-focused products.

Of these, six products are tracking Nifty 50 and one product is tracking Nifty50 2x leverage index.

"These new products have garnered Assets under Management (AUM) of about $ 550 million," the National Stock Exchange (NSE) said in a statement.

At present, there are 21 passive funds tracking Nifty Indices outside India. In addition, there are 270 passive funds tracking various Nifty Indices in India.

 

In the last 10 years, the total AUM of passive funds tracking Nifty Indices in India and outside has increased to about $ 70 billion in November 2023 from about $ 1 billion in November 2013, growing at an annualized rate of 53 per cent.

"We are seeing a strong demand from global asset managers for launching India-focused passive products. The year 2023 has been historic for NSE Indices with seven passive products launched outside India on Nifty indices and they also garnered good AUM," Mukesh Agarwal, MD & CEO, NSE Indices, said.

"We expect this trend to continue and many more India focused passive products are expected to be launched outside India in 2024 as well," he said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Dec 20 2023 | 7:18 PM IST

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