The Union Finance Minister Arun Jaitley launched a new Exchange Traded Fund (ETF) by the name BHARAT 22.
Bharat 22 consists of 22 stocks of CPSE’s, PSB’s & strategic holding of SUUTI (list as in Annexure).
Compared to energy heavy CPSE ETF, Bharat 22 is a well Diversified portfolio with 6 sectors (Basic Materials, Energy, Finance, FMCG, Industrials & Utilities).
Bharat 22 is an ETF that will track the performance of 22 stocks the government plans to pare its stake in. An ETF (exchange traded fund) pools money from investors and channels it into a basket of stocks, mirroring an index and its performance.
An ETF unit represents a slice of the fund; issued units are listed on exchanges for anyone to buy or sell at the quoted price.
The Bharat 22 Index will be rebalanced annually. ICICI Prudential AMC will be the ETF Manager and Asia Index Private Limited (JV BSE and S& P Global) will be the Index Provider.
Bharat 22 Index Constituents:
|Sr. No.||Company Name||Basic Industry||Weight (%)|
|1||National Aluminium Co Ltd||Basic Materials||4.4|
|Total – Basic Materials (%)||4.4|
|2||Oil & Natural Gas Corp Ltd||Energy||5.3|
|3||Indian Oil Corp Ltd||Energy||4.4|
|4||Bharat Petroleum Corp Ltd||Energy||4.4|
|5||Coal India Ltd||Energy||3.3|
|Total – Energy (%)||17.5|
|6||State Bank of India||Finance||8.6|
|7||Axis Bank Ltd||Finance||7.7|
|8||Bank of Baroda||Finance||1.4|
|9||Rural Electrification Corp Ltd||Finance||1.3|
|10||Power Finance Corp Ltd||Finance||1.0|
|Total – Finance (%)||20.3|
|Total – FMCG (%)||15.2|
|13||Larsen & Toubro Ltd||Industrials||17.1|
|14||Bharat Electronics Ltd||Industrials||3.3|
|15||Engineers India Ltd||Industrials||1.5|
|16||NBCC (India) Ltd||Industrials||0.6|
|Total – Industrials (%)||22.6|
|17||Power Grid Corp of India Ltd||Utilities||7.9|
|19||Gail India Ltd||Utilities||3.7|
|21||NLC India Ltd||Utilities||0.3|
|Total – Utilities (%)||20.0|