CPSE ETF, which functions like a mutual fund scheme, comprises scrips of 10 PSUs -- ONGC, Coal India, IOC, Gail India, Oil India, PFC, Bharat Electronics, REC, Engineers India and Container Corporation of India.
The fund-raising will help the government inch towards Rs 56,500 crore disinvestment target for the current fiscal.
As per draft documents filed with Securities and Exchange Board of India (Sebi), Reliance MF has applied for second tranche of CPSE (Central Public Sector Enterprises) ETF (Exchange Traded Fund).
The government had first launched a CPSE ETF in March 2014 under which retail investors have to invest a minimum of Rs 5,000 to buy units. It had raised Rs 3,000 crore through the ETF then.
CPSE ETF which was originally managed by Goldman Sachs MF, was acquired by Reliance MF in October 2015. Finance Ministry, in September, had given its nod for transfer of management of CPSE ETF to Reliance Mutual Fund.
Apart from the existing CPSE ETF, government is planning to create a new ETF comprising stocks of PSUs in the current fiscal with an estimated corpus of Rs 6,000 crore. It has already appointed ICICI Prudential Mutual Fund to manage the second CPSE ETF.
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