Success of Modi-backed fund may boost ETF sales in India
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Hong Kong
THE success of an exchange-traded fund backed by Prime Minister Narendra Modi's government may help boost the acceptance of such products in the world's second-fastest growing ETF market.
Investors poured 92 billion rupees (S$1.97 billion), or 3.7 times the targeted amount, into a fund of the top 10 state-run companies, according to Reliance Mutual Fund, which manages the pool.
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