NSE’s index services subsidiary, NSE Indices Limited has today launched the Nifty BHARAT Bond Index series. The Nifty BHARAT Bond Index series measures the performance of portfolio of AAA rated bonds issued by government owned entities maturing in a specific year.
These are the first two indices within Nifty BHARAT Bond Index series: Nifty BHARAT Bond Index – April 2023 Nifty BHARAT Bond Index – April 2030 “Innovation in financial products is important for the development of markets.
NSE has always been at the forefront of financial innovations and takes pride in working with Department of Investment and Public Asset Management (DIPAM), Government of India and other stakeholders in developing the unique BHARAT Bond Index series that will be tracked by India’s maiden corporate bond ETF – BHARAT Bond ETF announced by the Honorable Finance Minister Smt. Nirmala Sitharaman,” said Vikram Limaye, MD & CEO, NSE.
Mukesh Agarwal, CEO – NSE Indices, said, “The Nifty BHARAT Bond Indices are first of its kind following a unique target maturity structure where the index matures in a particular year just like a bond. Each such index captures performance of portfolio of highly rated public sector bonds with “AAA” rating and maturing in a specific year. With high credit quality issuers, very low fund management fees, exchange traded, tax-efficiency and high predictability of returns, the Target Maturity Based ETFs have the potential to change the way retail investors invest in fixed income markets.”
The indices have a base date of November 29, 2019 and a base value of 1000. The indices will be re-balanced/reconstituted at the end of every calendar quarter. For more information on index methodology and fact-sheet www.niftyindices.com may be contacted.