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Birla Mutual fund is coming up with Nifty Exchange Traded Fund

August 30, 2010
Birla Sun Life Mutual Fund has recently filed a draft offer document with the Securities and Exchange Board of India (SEBI) to launch an open-ended 'Nifty exchange traded fund' (ETF). The fund will closely track the stocks represented in the S&P CNX Nifty.

ETFs can be cost-effective for investors as they charge a minuscule fund management fee compared to index funds, as compare to index funds, ETFs do not carry an entry or exit load.

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