Edelweiss AMC to manage govt’s debt ETF

Chennai: Edelweiss Asset Management has emerged as the front runner to create, manage and launch the government’s maiden debt Exchange-Traded Fund (ETF), industry officials have said.

Others in the race were SBI Funds Management, Reliance Nippon Life Asset Management, UTI Asset Management Company and Aditya Birla Sun Life AMC.

All the five entities in race were invited by the Department of Investment and Public Asset Management (DIPAM) to make a presentation for the planned debt ETF Thursday, according to the information available on the department’s website.

The selected AMC would work with the government and the advisors in all aspects of creating, launching and managing the proposed debt ETF, including all funds from operation (FFO), tranche and additional offering.

The debt ETF would comprise bonds, credit-linked note, debentures, promissory notes as underlying instruments issued by participating CPSEs/PSBs/PSUs.

NT Bureau