Nifty goes global! Blackrock launches Nifty ETF in Japan
Japan has launched a new ETF on Nifty50, which will be an addition to the four passive funds that track the headline index, NSE CEO Ashish Chauhan said on Thursday.
“Happy to share that Blackrock Japan has launched an ETF on Nifty 50 in the month of June 2024. In the current Financial year, already four new passive funds tracking Nifty indices launched in international markets (3 in Japan and 1 in South Korea),” Chauhan said.
In 2023, seven passive funds were launched in Japan and South Korea which tracked Nifty indices. Six of these seven passive funds tracked Nifty 50, while one tracked the Nifty50 2x leverage index.
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These seven funds had an asset under management of $550 million. Around 21 passive funds as of December 2023 tracked Nifty indices outside India. These products were launched by large asset managers, including iShares Blackrock, DWS, First Trust, Nomura AMC, and Mirae Asset Global Investments.
In India, currently, there are around 16 ETFs which track Nifty50. These 16 ETFs had an asset under management of Rs 2.61 lakh crore as of May 31, 2024. Around 14 passive schemes have completed one year of existence in the market and given an average return of 26.78% in the same period.
ICICI Prudential Nifty 50 ETF has offered the highest return of around 26.85% in the last year. SBI Nifty 50 ETF, the largest ETF tracking Nifty 50, gave 26.81% in the last year. The scheme had an asset size of Rs 1.80
