Nifty BeES — Nifty Benchmark Exchange Traded Fund
Nifty BeES invests at least 90% of its total assets in the stocks constituting the S&P CNX Nifty Index. It may invest up to 10% of its total assets in stocks not included in the underlying index.
It tracks the Nifty index and is an open-ended, passively managed fund. It does not try to beat the markets. Indexing eliminates risks associated with active management. The fund abstains from voting on any matters with respect to companies whose shares it holds. Dividends are reinvested at the prevailing NAV.
Liquid BeES — Liquid Benchmark Exchange Traded Scheme
The scheme invests in call money, short-term government securities, T-Bills, repos and reverse repos, debt securities, commercial papers, certificates of deposit, short-term debentures and floating rate notes. Dividends are reinvested at the prevailing NAV.
Gold BeES — Gold Benchmark Exchange Traded Scheme
The scheme invests 90%–100% in physical gold and 0%–10% in money market instruments, securitised debts, and bonds including cash at call. The scheme tracks the domestic price of gold and is an open-ended, passively managed scheme. There are no dividends in Gold BeES.
Historical note: All BeES ETFs which were under the management and administration of Benchmark Asset Management Company (BAMC) were acquired by Goldman Sachs in July 2011.
Subsequently, all BeES ETFs under Goldman Sachs were acquired by Reliance Mutual Fund in November 2016, which has since rebranded as Nippon India Mutual Fund.