Van Eck Global has launched Market Vectors India Small-Cap Index ETF (AMEX:SCIF), an open-end exchange-traded fund to provide investors with exposure to small-cap stocks in India, it was announced today. The fund will seek to track the Market Vectors India Small-Cap Index, which had a large base of 122 constituents and an average market capitalization of $456M, as of July 31, 2010.
Other India ETFs include the PowerShares India Portfolio (AMEX:PIN) which is based on an index that is designed to replicate the Indian equity markets as a whole, through a group of 50 Indian stocks selected from a universe of the largest companies listed on two major Indian exchanges. This ETF has a market value of $424.5 million.
The iShares S&P India Nifty 50 Index Fund (NASDAQ:INDY) has about $80 million in total net assets and owns companies such as Reliance Industries, Infosys (NYSE:INFY), ICICI Bank and Larsen & Toubro. This ETF has an expense ratio of 0.89%.
And the WisdomTree India Earnings Fund (AMEX:EPI) has total net assets of about $1.1 billion and invests in many similar names to the iShares S&P India Nifty 50 Index Fund. This ETF has a gross expense ratio of 0.92%.
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