Here comes a new product from Benchmark mutual funds - Hangseng Bees. The investment objective of the fund is to provide investment returns that closely correspond to the total returns of securities as represented by the Hang Seng Index. We all know about Nifty Bees which invests in Nifty index scrips and is well traded in NSE. This is a new product by which Indians can buy Hangseng index. This has come at a time when there is lot of interest in tracking Chinese markets.
Details of the scheme:
One Unit of Nifty BeeS is approximately 1/10th of the Hangseng Index, which is currently at 20000, so 1 unit would be Rs.2000. It will be listed and traded on the NSE -Capital Market Segment and is settled in the Rolling Segment on T+2 basis.
The fund is expected to be launched next month.
Get yourselves prepared to buy China ! And don't forget to know about Nifty Bees