Samsung Asset Management announced on 8th the new listing of the country's first exchange-traded fund (ETF), 'KODEX India Nifty Midcap 100 ETF,' which directly invests in small and mid-sized stocks in India.
This product tracks the 'Nifty Midcap 100 Index,' the representative index for small and mid-sized stocks in the Indian stock market, diversifying investments in 100 small and mid-sized growth corporations that lead the domestic economy.
In particular, it focuses on core sectors of domestic growth, such as infrastructure (40%) and consumer goods (30%), and is explained as being differentiated from existing Indian ETFs that are constructed around large-cap stocks.
The included stocks consist of strong corporations in the Indian healthcare sector like 'Max Healthcare,' traditional hotel corporations such as Indian Hotels, and the Bombay Stock Exchange (BSE).
Lee Ga-hyun, manager at Samsung Asset Management, noted, 'The Indian stock market is attractive for its long-term growth potential, even if short-term adjustments occur,' and added, 'It seems effective to utilize the correction period of the Indian stock market through a partitioning purchase strategy, and this ETF launch is expected to provide domestic investors with an opportunity to effectively access India's future growth.'