Benchmark Asset Management plans to launch an exchange traded fund (ETF) targeting government bonds with maturity of 10 years and hopes to offer a series of such ETFs tracking various maturities, a top executive said on Monday.
The firm filed the offer document with India's market regulator on Monday to launch Gilt Benchmark Exchange Traded Scheme.
"We, slowly and gradually, will have all different maturities available," Executive Director Rajan Mehta said.
Benchmark held average assets of about 28 billion rupees in November, mainly in exchage traded funds tracking stocks, gold and money market instruments, data from the Association of Mutual Funds in India showed.
The firm filed the offer document with India's market regulator on Monday to launch Gilt Benchmark Exchange Traded Scheme.
"We, slowly and gradually, will have all different maturities available," Executive Director Rajan Mehta said.
Benchmark held average assets of about 28 billion rupees in November, mainly in exchage traded funds tracking stocks, gold and money market instruments, data from the Association of Mutual Funds in India showed.
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