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Benchmark AMC to launch ETF

Benchmark Asset Management Company, a new AMC plans to roll an Exchange Traded Fund (ETF), a new kind of fund - Nifty Exchange Traded Scheme (Nifty BeES). The AMC is sponsored by a Mumbai-based NBFC, Niche Financial Services, promoted by Dhiraj Lal Mehta, a whole time director at Bajaj Auto. Benchmark AMC plans to provide low cost innovative products based on passive and quantitative techniques.