iShare MSCI India to be listed on Singapore Exchange

Singapore, Jun 2 (UNI) iShare MSCI India will be listed on the Singapore Exchange in two weeks, offering Singapore-based foreign fund investors the potential of trading on Indian blue chips, a report said today.

It would track MSCI India, a basket of 64 Indian blue chips, with an average price earnings of about 23.6 per cent and an expected dividend yield of 1.07 percent, according to the report in the Straits Times.

''Managed by Barclays Global Investors (BGI), the index is an innovative product that offers an easy and affordable way to gain exposure to the fast growing Indian market,'' BGI head of iShare, Mr Joseph Ho said.

The iShare MSCI India would be structured as an Exchange Traded Fund (ETF), a replica of BGI's Singapore-listed China ETFs, which had attracted more than 800 million dollar in investments, he said.

Despite the recent turmoil, the Indian stock market is among the hottest investment options in the region and the new ETF would give foreign fund managers a cheap way to gain exposure to the Indian market, the report added.

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