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ETFs are the latest and the fastest growing mutual fund structure in the world. In conventional open ended mutual funds, investors must wait until the end of the day when the fund net asset value (NAV) is announced before knowing what price they paid for new units they bought and the price they will receive for units they sold. For most long-term investors it does not matter much, but many investors do require greater flexibility. ETFs are different from conventional index funds in the sense that ETFs are traded throughout the day unlike index funds whose NAVs are computed.
ETFs are bought and sold during the day when the markets are open. The pricing of ETF shares is continuous during normal exchange hours. Trading prices vary throughout the day, based mainly on the changing intraday value of the underlying assets in the fund. ETF investors know within moments how much they paid to buy units and how much they received after selling. The nearly instantaneous trading of ETF shares makes intraday management of a portfolio possible. Through this product we give our investors an opportunity to efficiently get their allocation into the investments they want in an hour and then change their allocation in the next hour. Short selling is also available to ETF investors.
Introducing ABSL SENSEX ETF
ABSL SENSEX ETF is an open-ended exchange traded fund that is designed to track S & P BSE Sensex TRI index returns and trade just like any other stock, combined with the benefits of a mutual fund. This ETF will seek to mirror the return of S & P BSE Sensex TRI. The ETF will trade like a stock on an exchange, thus experiencing price changes throughout the day as it is bought and sold. An investor, by owning this ETF gets the diversification of an SENSEX as well as the ability to sell short, buy on margin and purchase as little as one share. It can be bought and sold through stock market brokers on payment of stock market related brokerages.
It will adopt a passive investment strategy. The investment objective of the scheme is to provide returns that, before expenses, closely correspond to the total returns of the securities as represented by BSE SENSEX by holding BSE SENSEX stocks in same proportion. However, the performance of the scheme may differ from that of the underlying index due to tracking error.
How ETF will work
Authorised Participants :
Parwati Capital Market Pvt. Ltd. &
Edelweiss Securities Ltd.
(An open ended scheme replicating BSE SENSEX index)
This product is suitable for investors who are seeking: