Deutsche Börse has listed the LAM Sun Global ZyFin India Sovereign Enterprise Bond ETF, which tracks the performance of the performance of the ZyFin India Sovereign Owned Enterprise Bond Index.
According to the issuers, ZyFin Holdings Pte and Sun Global Investments, it is the first physically replicating ETF to track the Indian bond market. The ZyFin India Sovereign Owned Enterprise Bond Index contains bonds from companies of national interest that are majority-owned by the Government of India, so-called Sovereign Owned Enterprises (SOEs). The corporate bonds are denominated in Indian rupees, have an AAA rating and have a residual maturity between 4 years to 20 years.
“We are pleased to welcome ZyFin as a new ETF issuer on Xetra. The primary listing of the world’s first ETF on Indian corporate bonds enhances our product offering in the segment with efficient and cost-effective access to an asset class that was previously hard to access,” said Michael Krogmann, Head of Cash Market Development at Deutsche Börse.
“Today, with the world’s first Indian fixed income ETF, we are launching our product line of innovative ETFs intended to give investors cost-effective and transparent access to investment opportunities in emerging markets.
Building on our many years of macro analytical research expertise in this field, we see our task as offering investors around the world attractive investment opportunities,” added Sanjay Sachdev, Chairman and co-founder of ZyFin Holdings Pte. Limited.
The fund will also be launched on London Stock Exchange later this week.