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UTI Asset Management Company (UTI AMC) said it will change the trading symbols of select exchange-traded funds (ETFs) listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), with the revisions taking effect from December 24.
Under the new format, ETF symbols will combine the underlying index name with the suffix “BETA” across both exchanges. For instance, the UTI Nifty 50 ETF will trade under the symbol NIFTYBETA, replacing the earlier UTINIFTETF.
UTI AMC said the revised nomenclature aims to improve visibility, promote uniformity, and make ETF identification easier for investors and market participants.
The changes apply to a range of UTI AMC’s equity, debt, and commodity ETFs listed on NSE and BSE. These include funds tracking benchmark equity indices such as the Nifty 50, Sensex, Nifty Bank, and Nifty IT, as well as government securities ETFs and gold and silver ETFs.
Commenting on the move, Sharwan Goyal, Head – Passives, Quant and Arbitrage at UTI AMC, said the symbol changes are intended to simplify identification and improve clarity, adding that a uniform naming convention helps investors better recognise the underlying index or asset class.
UTI AMC clarified that the revisions are limited to trading symbols and do not affect the investment objective, portfolio composition, methodology, or other fundamental characteristics of the ETF schemes. Existing investors do not need to take any action due to the change.
Among the revised symbols, the UTI BSE Sensex ETF will trade as SENSEXBETA, the UTI Nifty Next 50 ETF as NEXT50BETA, the UTI Nifty Bank ETF as BANKBETA, the UTI Gold ETF as GOLDBETA, and the UTI Silver ETF as SILVERBETA.
Under the new format, ETF symbols will combine the underlying index name with the suffix “BETA” across both exchanges. For instance, the UTI Nifty 50 ETF will trade under the symbol NIFTYBETA, replacing the earlier UTINIFTETF.
UTI AMC said the revised nomenclature aims to improve visibility, promote uniformity, and make ETF identification easier for investors and market participants.
The changes apply to a range of UTI AMC’s equity, debt, and commodity ETFs listed on NSE and BSE. These include funds tracking benchmark equity indices such as the Nifty 50, Sensex, Nifty Bank, and Nifty IT, as well as government securities ETFs and gold and silver ETFs.
Commenting on the move, Sharwan Goyal, Head – Passives, Quant and Arbitrage at UTI AMC, said the symbol changes are intended to simplify identification and improve clarity, adding that a uniform naming convention helps investors better recognise the underlying index or asset class.
UTI AMC clarified that the revisions are limited to trading symbols and do not affect the investment objective, portfolio composition, methodology, or other fundamental characteristics of the ETF schemes. Existing investors do not need to take any action due to the change.
Among the revised symbols, the UTI BSE Sensex ETF will trade as SENSEXBETA, the UTI Nifty Next 50 ETF as NEXT50BETA, the UTI Nifty Bank ETF as BANKBETA, the UTI Gold ETF as GOLDBETA, and the UTI Silver ETF as SILVERBETA.
