ISHARES S&P INDIA NIFTY 50 INDEX FUND $21.98 (Nasdaq symbol INDY; buy or sell through brokers; us.ishares.com) is an ETF that aims to track the S&P CNX Nifty Index, which represents the 50 largest, most liquid Indian securities.
The fund’s top holdings are ITC Ltd. (conglomerate), 9.7%; Reliance Industries Ltd. (conglomerate), 7.4%; Housing Development Finance, 7.1%; ICICI Bank, 6.7%; HDFC Bank, 6.5%; Infosys, 6.4%; Larsen & Toubro Ltd. (conglomerate), 4.2%; Tata Consultancy Services (information technology), 4.0%; Hindustan Unilever, 3.4%; and Oil & Natural Gas Corp., 3.1%.
The fund’s industry breakdown includes Banks, 21.4%; Computers, 11.4%; Cigarettes, 9.7%; Refineries, 7.9%; Finance, 7.1%; Pharmaceuticals, 5.9%; Engineering, 4.2%; Oil Exploration and Production, 4.0%; and Automobiles, 3.6%; The ETF has a 0.92% expense ratio.
India’s economy slowed to a 5.0% growth rate in 2012 from 6.2% in 2011. But it could rebound to over 5.7% this year and more than 6.5% in 2014.
iShares S&P India is a buy for safety-conscious investors who are willing to accept some risk.
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Changes to this Policy
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