It is the second
Exchange Traded Fund (ETF) that will be launched by the Union Finance Ministry.
ICICI Prudential Mutual Fund will manage the fund.
ETFs are essentially index funds that are listed and traded on stocks exchanges just like regular shares.
They are a basket of stocks with assigned weights that reflects the composition of an index.
Bharat 22 comprises 22 stocks including those of central public sector enterprises, PSU banks and holdings under the Specified Undertaking of Unit Trust of India.
Bharat 22 is a welldiversified ETF spanning six sectors -basic materials (4.4%), energy (17.5%), finance (20.3%), industrials (22.6%), FMCG (15.2%) and utilities (20%).
The ETF is aimed at helping speed up the government's disinvestment programme.
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