Include Bharat-22 ETF in your satellite portfolio

Bharat 22 ETF Opens Today Should you invest

The companies are National Aluminium Company, Oil and Natural Gas Corporation, Indian Oil Corporation, Bharat Petroleum Corporation, Coal India, State Bank of India, Axis Bank, Bank of Baroda, Rural Electrification Corporation, Power Finance Corporation, Indian Bank, ITC, Larsen and Toubro, Bharat Electronics, Engineers India, NBCC (India), Power Grid Corporation of India, NTPC, GAIL (India), NHPC, NLC India and SJVN.

The units of the scheme will be allotted 25% to each category of investors.

The government of India launched on Tuesday the Bharat 2 Exchange Traded Fund (ETF) managed by ICICI Prudential Mutual Fund targeting an initial amount of about Rs 8,000 crore.

Where will the ETF invest?

These companies would benefit from government reforms and initiatives such as financial inclusion, digitisation, Make in India, Goods & Services Tax (GST) and infrastructure reforms and belong to six sectors like basic materials, energy, finance, fast-moving consumer goods (FMCG), industrials and utilities.

The ETF, which is a diversified portfolio of 22 blue chips, will open for non- anchor investors on November 15 and close on November 17.

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"Through this instrument, the Govt of India is divesting multiple stocks spread across various sectors in one bundled instrument thereby reducing over hang on individual stocks and maximizing sale proceed for the Government", he added. The sector and stock exposure limits help in risk management and reduction of concentration, providing stability to the Index.

Mayuresh Joshi, Fund Manager, Angel Broking said, "The composition of Bharat 22 ETF is such that only large cap, dividend paying companies are available".

Speaking at the event, Senior Government official Anuradha Thakur, Joint Secretary, Department of Investment and Public Asset Management (DIPAM) observed, "BHARAT 22 aims at bring broad-based ownership pattern to the public sector enterprises (PSEs)".

"The BHARAT 22 ETF is an excellent avenue for investors to participate in some of the best companies with high future grown potential".

Bombay Stock Exchange launched S&P BSE Bharat 22 index on 10 August 2017.

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