SGX Lists UTI India Nifty 50 Index ETF

SGX has welcomed the listing of the UTI India Nifty 50 Index ETF, giving investors access to India’s equity market through one of the country’s most widely recognised large-cap benchmarks.

Managed by UTI International (Singapore), the ETF tracks the Nifty 50 Index, which comprises 50 of India’s largest and most liquid companies listed on the National Stock Exchange of India (NSE). According to SGX, it is the first SGX-listed ETF to use the Variable Capital Company (VCC) structure to invest directly in an India-domiciled ETF.

The ETF can be traded in both SGD and USD, under the trading codes NIF and NIU respectively.

Ng Yao Loong, Head of Global Financial Markets at SGX Group, said investors in Singapore want India equity exposure that is simple to access and liquid to trade. He said the VCC structure gives them the Nifty 50 on SGX in SGD or USD, backed by liquidity of the India-domiciled fund, and broadens the India-linked products available through SGX.

Jermyn Wong, Chief Executive Officer of UTI International (Singapore) Private Limited, described the listing as Singapore’s first Nifty 50 ETF and said it marks a new chapter in India-Singapore market connectivity. He said UTI is proud to bring another innovative product to market, providing investors with more solutions to access India.

Following this listing, SGX offers 65 ETFs across asset classes and markets, with total assets under management of approximately S$20 billion.