The FINANCIAL -- London Stock Exchange on November 19 welcomes ZyFin and Sun Global Investments, to open trading on its markets to celebrate the listing of the first Indian ETF in London.
The LAM Sun Global ZyFin India Sovereign Enterprise Bond UCITS ETF will be the first ETF to offer international investors exposure to a basket of Indian public sector corporate bonds. The fixed income ETF will also be Europe’s first physically replicating Indian ETF, backed by real underlying securities as opposed to notional securities or derivatives, according to London Stock Exchange.
London Stock Exchange has seen 145 ETFs listed on its market in 2015, already surpassing the total number of ETFs listed in 2014.
Lida Eslami, Listed Products Manager, London Stock Exchange, said: "It’s very exciting to welcome our first Indian ETF issuer to open trading in London this morning. London is the world’s most international financial market and has a long history of working with partners in India. As the leading venue for ETF trading in Europe, London Stock Exchange continues to work with market participants from around the world to build on this position by encouraging new issuers and products to market."
Sanjay Sachdev, Executive Chairman at ZyFin, said: "Listing the world’s first fixed income ETF on London Stock Exchange was an obvious decision given its heritage in the ETF industry, the depth of the market and access to a broad range of European investors that understand India. The launch of the Fund will give international investors the ability to invest in a basket of difficult to access but well researched AAA rated Indian Sovereign Owned Enterprises. Building on our many years of macro analytical research expertise in this field, we see our task as offering investors around the world attractive investment opportunities in a cost effective and transparent wrapper."
Mihir Kapadia, CEO at Sun Global Investments, said: "At a time when developed bond market yields are at very low levels, we are delighted to be able to offer global investors this innovative, high-yield ETF giving unique access to the relatively untapped Indian public sector bond market.
The listing reflects our view that India is emerging as one of the most attractive places to invest in the world and, by listing the ETF in London, puts the UK at the forefront of developing India’s bond market."