Emerging Global Advisors,an asset management company focused exclusively on emerging markets,on Wednesday announced the launch of India Consumer Fund,an Exchange-Traded Fund (ETF) designed to capture the domestic consumption story of India. Based in New York City,Emerging Global Advisors LLC is an independent investment advisory firm and the sub-advisor to the EGShares family of exchange-traded funds (ETFs). The ETF,listed on NYSE under the ticker symbol (INCO) will replicate the 'India Consumer' Index,created and managed by Indxx Capital. The 30-stock indices aims to benefit from the market performance of companies in the consumer oriented sectors of India,a company statement said. We firmly believe that India will continue to be amongst the best performing economies across the globe. The rising per-capita incomes of the Indian household will continue to drive India's domestic consumption oriented sectors," Indxx Capital,Managing Director,Naveen Kumar said. While the Indxx Emerging Market High Income Low Beta Index is aimed at investors seeking less volatility through a portfolio of stocks from 21 emerging markets,Indxx India Consumer Fund Index is aimed at exploiting the vast potential of this underlying theme. Our indices are well researched and provide a safe avenue of gaining exposure to Indian markets for global investors,Kumar said.
