Samsung Asset Management's KODEX India Nifty50 Net Assets Surpass 300 Billion KRW

Samsung Asset Management announced on the 29th that the net assets of the KODEX India Nifty50 ETF, which invests in 50 large-cap stocks in the Indian stock market, have surpassed 300 billion KRW. Individual investors showed strong interest in the Indian market by net buying 88.3 billion KRW.

India's GDP grew by 8.4% year-on-year in the fourth quarter of last year, exceeding the forecast of 6.6%. The government's focus on manufacturing promotion policies and improvements in infrastructure conditions proved effective. The Nifty50 index recorded an all-time high of 22,493.55 on March 7.

The KODEX India Nifty50 ETF tracks the Nifty50 index, which includes 50 large-cap stocks in the Indian market. Since its listing on April 21 last year, it has risen 25.5%, recording the highest return among ETFs tracking the same index listed domestically. Continuous capital inflows are also seen, with insurance and banking sectors purchasing 13 billion KRW and 7.6 billion KRW respectively.

Lee Jun-jae, manager at Samsung Asset Management, said, "India's economic growth rate shows that Prime Minister Modi's policy support and infrastructure investments through manufacturing-centered growth policies are proving effective," adding, "We expect the economic growth rate to continue for a considerable period." He further stated, "The KODEX India Nifty50 ETF is an efficient investment product for investors who believe in India's long-term growth."

Samsung Asset Management is preparing to list a follow-up product related to India, an ETF that focuses on Tata Group stocks, a leading Indian conglomerate at the center of India's economic growth across various industries. The ETF will be listed in the first half of the year after approval from Indian financial authorities.