Moneycontrol
Get App
Last Updated : Apr 16, 2019 06:41 PM IST | Source: Moneycontrol.com

Reliance Nippon Life AMC joins hands with ETF Securities to launch first India ETF in Australia

Founded by entrepreneur and philanthropist Graham Tuckwell, ETF Securities offers funds ranging across local and international share markets and sectors including robotics, biotechnology and commodities.

Himadri Buch @himadribuch
Nikhil Walavalkar @nikhilmw

Graham Tuckwell's ETF Securities has partnered with Reliance Nippon Life Asset Management Company for managing the exchange-traded fund investing in India, two sources from the Indian mutual fund industry told Moneycontrol.

However, Reliance Nippon Life AMC declined to confirm.

Nippon Life, that owns 42.88 percent stake in Reliance AMC, has operations in Japan, Australia, the US, China, Europe, Thailand, and Indonesia.

Australia's first India equities ETF is set for launch next month.

ETF Securities is an asset management firm focused on exchange-traded funds, exchange-traded commodities and exchange-traded currencies with offices in Jersey, London, New York, Sydney and Melbourne.

Founded by entrepreneur and philanthropist Graham Tuckwell, ETF Securities offers funds ranging across local and international share markets and sectors including robotics, biotechnology and commodities.

The passive ETF, named NDIA, will give Australian investors access to Indian companies such as Tata and Infosys along with basket of other stocks listed on the National Stock Exchange of India Ltd (NSE).

"The elections now underway in India underscore the huge numbers we are dealing with when it comes to the Indian economy, an investment opportunity we will soon be putting within easy reach of Australian investors," said Kris Walesby, Head of ETF Securities Australia in a press release issued in Sydney dated April 16.

"Its transformation to a services-led economy has driven innovation and efficiencies and the rise of a wealthier consumer.” “Even with the challenges it now faces, we still think the Indian economy can register annual growth rates of as much as seven percent, putting it at the head of the pack among major economies," Walesby added.

However, Walesby said Indian markets remain difficult to access for foreign investors.

"Dealing with all the red tape probably explains why no-one else in Australia has attempted the sort of fund we are about to offer. This will be the first passive exposure to India available to Australian investors – whether listed or unlisted," said Walesby.
Not sure which mutual funds to buy? Download moneycontrol transact app to get personalised investment recommendations.
First Published on Apr 16, 2019 05:21 pm
More From
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant