Edelweiss Mutual Fund launches fourth tranche of ‘BHARAT Bond ETF’
NEW DELHI: Edelweiss Mutual Fund has introduced the launch of the fourth tranche of BHARAT Bond ETF – India’s first company bond ETF (exchange-traded fund). A central authorities initiative, Bharat Bond ETF invests solely in ‘AAA’-rated bonds of public sector corporations. Edelweiss Asset Management is the fund supervisor of the scheme.
This newest tranche of the ETF and BHARAT Bond Fund of Fund (FoF) sequence will mature in April 2033. The new fund supply (NFO) will begin on 2 December and finish on 8 December. Through the launch of this new sequence, Edelweiss Mutual Fund proposes to lift an preliminary quantity of ₹1,000 crore with a inexperienced shoe possibility of one other ₹4,000 crore.
So far, 5 maturities of Bharat Bond ETFs have been launched – 2023, 2025, 2030, 2031, & 2032.
The maiden providing of Bharat Bond ETF was launched in 2019.
Tuhin Kanta Pandey, secretary, Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, stated, “‘BHARAT Bond ETF programme has received an enthusiastic response from all categories of investors since its launch. BHARAT Bond has created a unique opportunity for all Indian investors to invest in PSU Bonds and fuel India’s progress story. Crossing a landmark ₹50,000 cr. AUM is a testomony that BHARAT Bond has emerged as a trusted funding avenue with higher tax effectivity for a lot of Indian traders.”
“Target Maturity Fund class is rising at an thrilling tempo submit the launch of Edelweiss MF’s Bharat Bond ETF. Investing in long-term debt has been delivered to the forefront by these funds. BHARAT Bond ETF now has six maturities – from 2023 to 2033, which can permit traders to pick out the appropriate maturity as per their funding objectives. We take nice delight in launching BHARAT Bond ETF together with Government of India, which paved approach for a complete new Mutual Fund class and adjusted India’s investing panorama,” stated Radhika Gupta, managing director and chief government, Edelweiss Mutual Fund.
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