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Monday, March 24, 2014

PSU ETF to reopen in April

PSU ETF to reopen in April

Investors will get another opportunity to invest in basket of blue-chip PSU shares through CPSE Exchange Traded Fund (ETF) with the scheme being reopened for subscription in the first week of April.
The scheme will reopen for continuous subscription and redemption on or before April 4 instead of the earlier announced April 11, so as to give interested investors a chance to invest and trade freely.
The New Fund Offer (NFO) closed on 21 March 2014 after mopping up bids worth `4,200 crore. It is expected to see renewed inflows as the excess demand of `1,200 crore may come in when the subscription reopens.
The centre had targeted raising `3,000 crore through PSU ETF. ETFs will help investors to invest in number of CPSEs.

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