Benchmark MF unveils Hang Seng BeES

Benchmark Mutual Fund has launched Hang Seng Benchmark Exchange Traded Scheme — an open-ended scheme tracking Hang Seng index.

“We have launched an Indian ETF proposed to be listed on the National Stock Exchange capital market segment to give international exposure. This open-ended scheme will provide domestic investors an exposure to companies that constitute the Hang Seng,” Benchmark Mutual Funds Executive Director,Rajan Mehta told reporters here. The new issue is open for subscription from February 15 and closes on February 24,2010. Hang Seng Index was launched on November 24,1969,and is one of the earliest stock market indices in Hong Kong. It is widely recognized as the barometer of the Hong Kong stock market.

Investors seeking to invest will have to invest a minimum of Rs 10,000 and in multiples of Re 1 thereafter and each unit of the scheme being offered will have a face value of Rs 10 each and will be issued at a premium approximately equal to the difference between face value and 1/100th of the value of the Hang Seng Index.