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Monday, January 16, 2017

There is a new kid on the block as far as investing verse is concerned with the launch of Further Fund Offer (FFO) of CPSE ETF

CPSE ETF or Central Public Sector Enterprises Exchange Traded Fund is a unique fund investing in basket of securities listed in public sector space

The CPSE fund's underlying index is the one that NSE created specifically for this fund when it was launched. The index has ten stocks as its components:

- Coal India
- GAIL
- ONGC
- Indian Oil
- Bharat Electronics
- Oil India
- PFC
- REC
- Container Corp
- Engineers India.

While ETFs are MFs, they are bought and sold on stock exchanges like mutual funds. An investor who wants to invest in this basket of public sector stocks can therefore buy this ETF instead

The scheme intends to generate returns that closely correspond to the total returns generated by the Nifty CPSE Index, by investing in the securities which are constituents of the Nifty CPSE Index in the same proportion as in the index. However, the performance of the scheme may differ from that of the Nifty CPSE Index due to tracking error, scheme expenses and the initial discount of 5%.

For Anchor Investors, this fund will open for subscription from January 17 and for non-anchor investors i.e. retail investors, QIBs and non-institutional investors, subscription will start from January 18. This FFO will remain open till January 20, 2017

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