NSE lists SBI MF’s Nifty ETF for trade

The NSE has listed SBI Mutual Fund’s Nifty Exchange Traded Fund for trade with the trading symbol Setfnifty.

This comes in the run-up to the Employees’ Provident Fund Organisation’s plan to invest ₹5,000 crore in the equity market through Nifty and Sensex ETFs over next one year. SBI launched its Sensex ETF in 2003.

Of the total corpus, EPFO will invest 75 per cent in Nifty ETF and 25 per cent in Sensex ETF.

Setfnifty closed at ₹86.10 with a gain of 1.19 per cent on Thursday, while the SBI MF Sensex ETF was up 0.07 per cent at close at ₹296.

There are 10 equity ETFs with Nifty index as the underlying, which is highest for any index in India. Besides, ETFs on Nifty (as underlying) are listed abroad. Nifty index has given an annualised return of 17.8 per cent in the last three years.