ISHARES S&P INDIA NIFTY 50 INDEX FUND $20.44 - Nasdaq symbol INDY

ISHARES S&P INDIA NIFTY 50 INDEX FUND $20.44 (Nasdaq symbol INDY; buy or sell through brokers; us.ishares.com) is an ETF that aims to track the S&P CNX Nifty Index, which represents the 50 largest, most liquid Indian securities.

The fund’s top holdings are Infosys Technologies (software), 9.5%; Reliance Industries Ltd. (conglomerate), 8.4%; ITC Ltd. (conglomerate), 7.7%; Housing Development Finance, 6.3%; ICICI Bank, 5.7%; HDFC Bank, 5.6%; Tata Consultancy Services Ltd. (information technology), 4.2%; Larsen & Toubro Ltd. (conglomerate), 3.9%; Hindustan Unilever Ltd. (consumer products), 3.1%; and State Bank of India, 3.0%.

The fund’s industry breakdown includes: Banks, 17.0%; Computers, 15.9%; Refineries, 8.8%; Cigarettes, 7.7%; Finance: Housing, 6.3%; Automobiles, 5.4%; Pharmaceuticals, 4.5%; Power, 4.3%; Engineering, 3.9%; and Oil Exploration, 3.3%. The fund has an expense ratio of 0.89%.

India’s economy has grown by more than 9% annually in the past few years. Growth slowed to 6.9% in the third quarter of 2011, but India could still expand by 7% in 2012.

iShares S&P India is a buy for safety-conscious investors willing to accept some risk.

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