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Integrity Life Companies Launche
PowerShares Introduces India ETF
March 5, 2008
SAN DIEGO
(ETFguide.com) - The
PowerShares India Portfolio (Ticker: PIN) began trading on NYSE Arca today.
The new fund will track the Indus India Index
which provides coverage to industry sectors like information technology, health
sciences, financial services, and consumer products.
Fifty
Indian stocks are chosen from a universe of the largest listed companies on the
two major Indian exchanges – the Bombay Stock Exchange and the National Stock
Exchange.
Top holdings include Dr. Reddy’s Laboratories,
HDFC Bank, Satyam Computer Services, and Tata Motors.
The performance of Indian stocks along with other
emerging markets has cooled in 2008. To date, India’s Bombay Sensex has declined
19.5 percent.
The new PowerShares ETF will compete with the
WisdomTree India Earnings Fund (Ticker:
EPI), which was just introduced at the end of February.
The WisdomTree ETF has 150 stocks and emphasizes
earnings profitability. The expense ratio is 0.88 percent versus 0.78 percent
for the PowerShares fund.
“India is one of the fastest-growing economies
in the world, and it also boasts the globe’s second largest population and
fourth largest GDP. We believe PIN is an excellent choice for investors seeking
diversified access to a broad portfolio of Indian securities,” Bruce Bond,
President and CEO of PowerShares.
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