Mirae Asset Global Investments announced on the 14th that it will newly list the TIGER India Billion Consumer Exchange Traded Fund (ETF).
The TIGER India Billion Consumer ETF focuses on investing in the Indian consumer market with growth potential. The underlying index is the 'India Billion Consumer Index,' which includes the top 20 representative consumer goods companies. Consumer goods-related companies in India account for about 30% of the India Nifty50 Index, indicating a significant weight.
Representative included stocks are Tata Motors, India's leading electric vehicle and commercial vehicle company; Mahindra Group, a company in the automotive, machinery, information technology, and defense industries; and Titan Company, a luxury jewelry brand.
To commemorate the launch of the TIGER India Billion Consumer ETF, Mirae Asset Global Investments will hold a listing event for trading customers. Customers who meet the daily trading and net purchase conditions of the ETF at SK Securities and Korea Investment & Securities will be given cultural gift certificates through a lottery and other methods.
Oh Min-seok, Head of the Global ETF Management Division at Mirae Asset Global Investments, said, "As volatility in the global financial market has recently increased, countries and industries with structural growth potential and unlimited growth prospects are gaining attention. India is the fastest-growing country in the world, and investors can invest in the consumer market that can fully benefit from India's gross domestic product (GDP) growth."
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