00:51 GMT24 September 2020
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    British and Indian financial firms launched the world’s first Indian fixed income investment fund, an exchange-traded fund (ETF), at the London Stock Exchange (LSE), British media reported Thursday.

    MOSCOW (Sputnik) – The announcement comes on the first day of Indian Prime Minister Narendra Modi’s visit to the United Kingdom to explore closer economic cooperation between the third-most mutual trade partners.

    "The launch of the Fund will for the first time allow foreign investors the opportunity to invest in these difficult-to-access but well researched AAA rated Indian companies," The Guardian quoted a joint statement issued by Britain’s Sun Global and Investments and India’s Zyfin Funds.

    The ETF, in compliance with the EU-wide Undertakings for Collective Investment in Transferable Securities (UCITS), will target corporate bonds with an average duration of over 10 years with the aim of providing around 7-percent yields.

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    business, exchange, Narendra Modi, Britain, India
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