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India’s first ETF listed on London SE

The LAM Sun Global ZyFin India Sovereign Enterprise Bond UCITS ETF has been listed on the London Stock Exchange, marking the listing of the world’s first Indian fixed income ETF on the exchange. The LAM Sun Global ZyFin India Sovereign Enterprise Bond UCITS ETF, floated by Sun Global Investments and ZyFin Holdings, offers British and international investors exposure to a basket of Indian public sector corporate bonds. The fixed income ETF will be Europe’s first physically replicating Indian ETF backed by real underlying securities as opposed to notional securities or derivatives. The Fund tracks the performance of the ZyFin India Sovereign Owned Enterprise Bond Index based on cutting edge research and contains bonds from companies of national interest that are majority-owned by the government of India – the so-called Sovereign Owned Enterprises. The corporate bonds are denominated in Indian rupees, have an AAA rating and a residual maturity between 4 and 20 years with current average maturity of 8.97 years. Although partly state owned, the average yield of the portfolio is close to 8.23% (in rupees) which is higher than the yield of Indian sovereign bonds.

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