Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Portfolio > Mutual Funds

India Investing

By Staff Writer

X
Your article was successfully shared with the contacts you provided.

Advisors who like to use ETFs or mutual funds for client portfolios’ foreign-country exposure may want to look into two new India investment offerings: one is an ETF from PowerShares Capital Management LLC, and the other is a mutual fund from Direxion Funds. PowerShares India ETF (PIN), started trading February 29 on the NYSE Arca. Direxion launched India Bull 2x Fund (DXILX), on March 19.

Chicago-based PowerShares’ India ETF is based on the Indus India Index, investing in 50 local stocks (rather than U.S.-traded ADRs) that trade on India’s National and Bombay Stock exchanges. The index tracks the equity markets in India, including companies that represent “the Indian Equity markets as a whole, with representation across the information technology, health sciences, financial services, heavy industry consumer products and other market segments” according to the company’s February 29 announcement.

Boston-based Direxion’s India Bull 2x Fund, pegged to the MSCI India Total Return Index, uses leverage to capture “daily investment results, before fees and expenses, of 200% of the price performance” for that index. “This index is a free-float-adjusted market capitalization index designed to measure the market performance, including price performance and income from dividend payments, of Indian equity securities,” Direxion Funds states in its March 19 announcement.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.