ZyFin plans “first” Indian fixed income ETF in Europe

indiaAn Indian firm is to launch what it says is the first Indian fixed income exchange-traded fund (ETF) in Europe.

Zyfin, a macro-analytics firm based in Mumbai, will list its product in London and Frankfurt. It has already gained regulatory approval from the Central Bank of Ireland.

The fixed income ETF will hold real securities rather than notional securities or derivatives.

Zyfin was founded in 2011 and was originally called Blufin. It focuses on emerging markets, but also plans to launch smart beta ETFs.

Board members include Nina Shapirom, former vice-president of the World Bank Group’s international finance corporation, Neeraj Bhargava, who is the firm’s lead investors, and Udayan Goyal, a founder of venture capital firm, Anthemis.

Bhargava says the ETF provides an attractive option for global fixed income investors to address their need for higher yields.

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