Infrastructure Benchmark Exchange Traded Scheme (Infra BeES), the country’s first index exchange traded fund (ETF) on infrastructure sector from Benchmark Asset Management got listed on the National Stock Exchange on Tuesday. This is the first Infrastructure sector fund which will mirror CNX Infrastructure Index.
The index includes companies belonging to telecom, power, port, air, roads, railways, shipping and other utility services providers.
ETFs as a category are gaining popularity amongst investors as they are diversified mutual fund portfolios that trade like stocks on the stock exchange.
Benchmark Asset Management Company is the first asset management company in India to focus on Indexing. It has launched first ETF in India in 2001 and has also given concept of Gold ETF to the world. Its asset under management as on September 30, 2010 was Rs 2,608.53 crore.
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