CPSE-ETF new fund offer launched
Goldman Sachs Asset Management announced the launch of CPSE (central Public Sector Enterprise) ETF new fund offer.
Goldman Sachs Asset Management announced the launch of CPSE-ETF (Central Public Sector Enterprise- Exchange Trade Fund) new fund offer (NFO) on 14 March 2014. The fund will open for retail investors on 19 March 2014.
CPSE ETF is an open-ended Index Exchange Traded Scheme NFO. It will be listed on the exchanges in the form of an Exchange Traded Fund (ETF), which tracks the Central Public Sector Enterprises (CPSE) index.
The CPSE Index, comprise ONGC, Gail, Coal India, Indian Oil, IOC, PFC, CCL, BEL and EIL. The index makes government to disinvest some of its stake in select CPSEs through ETF route. The scheme provides an opportunity to investors to invest in these PSUs at a discount of 5 percent on the Reference Market Price of the underlying shares of CPSE Index.
Retail individual investors can invest a minimum of 5000 rupees and in multiples of 1 rupee thereafter up to 2 lakh rupees.