NSE launches Nifty Equity Savings Index for mutual funds

NSE’s index services subsidiary, India Index Services & Products Limited, has introduced Nifty Equity Savings Index, which can serve as a benchmark for equity savings funds offered by various mutual fund houses. The index captures the performance of a portfolio having exposure to equity, equity arbitrage and debt instruments and is similar to the investment philosophy of equity savings funds, NSE said in a statement.

The Nifty Equity Savings Index has a 35% exposure to Nifty 50 Total Return Index, 30% exposure to equity arbitrage (long position in Nifty 50 Total Return Index and equivalent short position in Nifty 50 Futures Index), 30% exposure to Nifty Short Duration Debt Index and 5% exposure to Nifty 1D Rate Index.