The open-ended Exchange Traded Fund (ETF) aims to provide returns before expenses that closely correspond to the returns derived out of the S&P CNX Nifty, subject to tracking errors, said Kotak Mahindra Asset Management Company CEO Sandesh Kirkire.
The ETF will be listed and can be traded on the NSE. Each unit of the scheme will be approximately equal to 1/10th of the value of the S&P CNX Nifty.