Govt to decide this month on ETF for share sale | business | Hindustan Times
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Govt to decide this month on ETF for share sale

business Updated: Aug 05, 2012 22:14 IST

PTI
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The finance ministry is expected to take a final decision by this month-end on exchange traded fund (ETF) for selling shares of state-owned firms as part of steps to meet the disinvestment target of Rs 30,000 crore this fiscal.

“ETF in-principle has been talked about,” a top finance ministry official told PTI. “There has been firming up certain views on this. It is expected to be finalised during the month.”

“The department of disinvestment has already received suggestions from two dozen institutions on the concept note it circulated on operationalisation of ETF,” the official added.

The department has been considering setting up of an exchange traded fund in the format of Hong Kong Tracker Fund.

The ETF, which is an investment fund traded on the stock exchanges much like stocks, would have an underlying benchmark which could be an index on the stock exchange.