India’s biggest opportunity ma

India’s biggest opportunity may also be its biggest investment trap.

The UTI India Nifty 50 Index ETF VCC launches on SGX on 12 November, giving Singapore investors access to 50 leading Indian companies without an Indian brokerage account.

India’s domestic consumption, infrastructure spending and financial-sector expansion offer compelling long-term growth drivers. Its different sector composition may also diversify portfolios heavily concentrated in US technology stocks.

But here’s the catch: economic growth does not automatically translate into stock market returns. Currency depreciation can erode gains, valuations still matter, and past outperformance guarantees nothing.

My view? India deserves consideration as a long-term portfolio diversifier, but investors should avoid confusing a promising economy with a bargain-priced market.

@Tiger_SG [真香]

@Tiger_SG：India's 50 Blue-Chips on SGX: UTI India Nifty 50 Index ETF VCC

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Its different sector composition may also diversify portfolios heavily concentrated in US technology stocks.\nBut here’s the catch: economic growth does not automatically translate into stock market returns. Currency depreciation can erode gains, valuations still matter, and past outperformance guarantees nothing.\nMy view? India deserves consideration as a long-term portfolio diversifier, but investors should avoid confusing a promising economy with a bargain-priced market.\n<a href=\"https://ttm.financial/U/4106547232749330\"> @Tiger_SG </a> [真香]</body></html>","htmlText":"<html><head></head><body>India’s biggest opportunity may also be its biggest investment trap.\n\nThe UTI India Nifty 50 Index ETF VCC launches on SGX on 12 November, giving Singapore investors access to 50 leading Indian companies without an Indian brokerage account.\nIndia’s domestic consumption, infrastructure spending and financial-sector expansion offer compelling long-term growth drivers. Its different sector composition may also diversify portfolios heavily concentrated in US technology stocks.\nBut here’s the catch: economic growth does not automatically translate into stock market returns. Currency depreciation can erode gains, valuations still matter, and past outperformance guarantees nothing.\nMy view? India deserves consideration as a long-term portfolio diversifier, but investors should avoid confusing a promising economy with a bargain-priced market.\n<a href=\"https://ttm.financial/U/4106547232749330\"> @Tiger_SG </a> [真香]</body></html>","text":"India’s biggest opportunity may also be its biggest investment trap. The UTI India Nifty 50 Index ETF VCC launches on SGX on 12 November, giving Singapore investors access to 50 leading Indian companies without an Indian brokerage account. India’s domestic consumption, infrastructure spending and financial-sector expansion offer compelling long-term growth drivers. Its different sector composition may also diversify portfolios heavily concentrated in US technology stocks. But here’s the catch: economic growth does not automatically translate into stock market returns. Currency depreciation can erode gains, valuations still matter, and past outperformance guarantees nothing. My view? India deserves consideration as a long-term portfolio diversifier, but investors should avoid confusing a promising economy with a bargain-priced market. @Tiger_SG [真香]","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/620004531982792","repostId":619915863617696,"repostType":1,"repost":{"magic":2,"id":619915863617696,"tweetId":"619915863617696","gmtCreate":1792377260223,"gmtModify":1792379959898,"author":{"id":4106547232749330,"idStr":"4106547232749330","authorId":4106547232749330,"authorIdStr":"4106547232749330","name":"Tiger_SG","avatar":"https://community-static.tradeup.com/news/9eb57a835b72d997d1941fb6605d80a4","vip":4,"userType":4,"introduction":"[Tiger Broker Singapore Official] ","boolIsFan":false,"boolIsHead":false,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[],"wearingBadges":[],"fanSize":6625,"starInvestorFlag":false},"themes":[],"images":[{"img":"https://community-static.tradeup.com/news/f5bd3d757e50200f6ed67f03ce114f5a","width":"1200","height":"630"},{"img":"https://community-static.tradeup.com/news/60b3118c57aa0dd9bf6de8988b840840","width":"1015","height":"340"},{"img":"https://community-static.tradeup.com/news/1ea9473dbac63a475da1e56e47c3cc21","width":"414","height":"217"},{"img":"https://community-static.tradeup.com/news/4e3a876493fe41ca9ab68c7f23f364b4","width":"828","height":"467"},{"img":"https://community-static.tradeup.com/news/5ef8e93a938dd9606d29df2a32ac990e","width":"552","height":"331"},{"img":"https://community-static.tradeup.com/news/4a310f31aa54dcb292d64c42824f708a","width":"552","height":"293"},{"img":"https://community-static.tradeup.com/news/62a4da3145257d0b0977b5c857c71b2e","width":"776","height":"447"},{"img":"https://community-static.tradeup.com/news/6eee039ad9e25ece8f8c12ad944a59e9","width":"765","height":"369"},{"img":"https://community-static.tradeup.com/news/6b47871b76947fbdc753c15074822906","width":"828","height":"551"},{"img":"https://community-static.tradeup.com/news/dd53c5853d5ccf31e34296e39dd15607","width":"552","height":"262"}],"coverImages":[{"img":"https://community-static.tradeup.com/news/f5bd3d757e50200f6ed67f03ce114f5a","width":"1200","height":"630"},{"img":"https://community-static.tradeup.com/news/60b3118c57aa0dd9bf6de8988b840840","width":"1015","height":"340"},{"img":"https://community-static.tradeup.com/news/1ea9473dbac63a475da1e56e47c3cc21","width":"414","height":"217"}],"title":"India's 50 Blue-Chips on SGX: UTI India Nifty 50 Index ETF VCC","html":"<html><head></head><body>Access India's largest listed companies in USD or SGD, during Singapore trading hours\n<img src=\"https://community-static.tradeup.com/news/f5bd3d757e50200f6ed67f03ce114f5a\" tg-width=\"1200\" tg-height=\"630\">\n<blockquote>\n Receive up to USD$600^ Cash Coupon when you subscribe to the UTI India Nifty 50 Index ETF VCC during the Initial Offer Period.\n</blockquote>\n<h2>Introducing the UTI India Nifty 50 Index ETF VCC</h2>\nOn 12 November 2026, India's 50 biggest companies come to SGX. The UTI India Nifty 50 Index ETF VCC is the first Nifty 50 ETF listed in Singapore. With this ETF, you can invest in India's largest companies using your existing Singapore brokerage account, during Singapore trading hours, in US (ticker: NIU) or S$ (ticker: NIF).\nThe Fund's investment objective is to track as closely as possible, before fees and expenses, the returns of the Nifty 50 Index (the \"Index\"). The Index represents 50 of the largest and most liquid companies listed on India's National Stock Exchange.\nThe Fund is a feeder fund. It seeks to achieve its objective by investing all or substantially all of its Net Asset Value into the UTI Nifty 50 Exchange Traded Fund (the \"Underlying Fund\"), which is listed in India and managed by UTI Asset Management Company Limited (“UTI AMC”). This makes it the first authorised scheme under the MAS Code on Collective Investment Schemes to feed directly into an India-domiciled fund.\nSpecial Promotion\nReceive up to USD$600^ Cash Coupon when you subscribe to the UTI India Nifty 50 Index ETF VCC during the Initial Offer Period.\n<img src=\"https://community-static.tradeup.com/news/60b3118c57aa0dd9bf6de8988b840840\" tg-width=\"1015\" tg-height=\"340\">\n[Webinar] The Diversification Gap - Why Your Portfolio Should be Overweight India\n<img src=\"https://community-static.tradeup.com/news/1ea9473dbac63a475da1e56e47c3cc21\" tg-width=\"414\" tg-height=\"217\">\nIndia is one of the world's fastest-growing major economies, yet it remains a small slice of most global portfolios. Join Jermyn Wong, CEO of UTI International (Singapore) Private Limited, as he makes the case for a meaningful allocation. He will cover what is driving India's growth, why the market has historically moved differently from US and global equities, and why today's valuations may offer an attractive entry point. He will also introduce the UTI India Nifty 50 Index ETF VCC and how it gives Singapore investors easy access to India's 50 blue-chips.\nEvent details\n<ul>\n <li>\n Date: 27 October 2026</li>\n <li>\n Time: 7-8pm</li>\n <li>\n Venue: Online webinar</li>\n <li>\n Tune In via: <a href=\"https://tigr.link/9ATOTu\" target=\"_blank\">https://tigr.link/9ATOTu</a></li>\n</ul>\nWhy investors should be taking a closer look at India\nAsk investors where the next decade of growth might come from, and India comes up quickly. Ask how much India they actually own, and the answer is usually very little. India has more than 1.4 billion people, and its economy has roughly doubled in the last ten years to become the fifth-largest in the world. Yet it is still a small part of most global portfolios. Many investors recognise India's long-term growth potential but have yet to translate that conviction into meaningful portfolio exposure.\nHere are four reasons why it may be worth a closer look:\n1. An economy that doubled in a decade\nIn 2015, India's economy was about US$2.1 trillion. By 2025, it had grown to around US$4.3 trillion, making India the world's fifth-largest economy.\nIndia's growth momentum remains strong. Its GDP grew 6.5% in 2025, ahead of China (4.8%), the US (2.0%), the Euro Area (1.2%) and Japan (1.1%), based on IMF data.\nWhat sets India apart is the composition of its growth. Domestic consumption makes up around 60% of GDP, making India less reliant on exports than many other emerging economies. Meanwhile, public infrastructure investment, manufacturing, digital payments and services exports provide additional growth drivers.\n<img src=\"https://community-static.tradeup.com/news/4e3a876493fe41ca9ab68c7f23f364b4\" tg-width=\"828\" tg-height=\"467\">\n2.&nbsp;&nbsp;&nbsp;A deep market with a long record\nIndia’s stock market has expanded significantly, with National Stock Exchange’s (NSE) market capitalisation reaching approximately US$5.3 trillion in April 2026. This reflects the growing scale and depth of India’s equity market.\nCut through the short-term noise and look at the long-term picture, India’s record stands out. Over the 25 years to 30 September 2026, the Nifty 50 returned 12.3% a year in USD terms. That was the highest of the 16 major markets compared. This outpaced the S&amp;P 500 (10.3%) and MSCI Emerging Markets (10.9%).\nOver those many years, the gap compounds into a big difference. At those rates, US$10,000 would have grown to about US$182,000 in the Nifty 50, compared with about US$116,000 in the S&amp;P 500.*&nbsp; Along the way, India's market has also experienced several sharp falls, including during the 2008 Global Financial Crisis and the 2020 COVID-19 sell-off, and it recovered from each of them.\n*Hypothetical illustration based on index annualised returns over 25 years to 30 September 2026, before fees, expenses and taxes. Not the performance of the Fund. Past performance is not necessarily indicative of future performance.\n<img src=\"https://community-static.tradeup.com/news/5ef8e93a938dd9606d29df2a32ac990e\" tg-width=\"552\" tg-height=\"331\">\nSource: Bloomberg, Data as of 30 September 2026. Countries shown represent a selected group of emerging markets for illustrative comparison purposes and do not represent the full emerging markets universe. Selection is based on markets considered relevant for regional and peer comparison. Other emerging markets, including markets with higher or lower returns, may not be shown.\n3. A diversifier for global portfolios\nMany investors believe their portfolios are well diversified. Look closer, much of that exposure is riding on one theme: technology. In the US, the market's growth has come largely from a handful of big tech companies. Emerging markets might look like the place to diversify, but MSCI Emerging Markets has also become increasingly tech-heavy, with Information Technology (IT) accounting for around 44% of the index. Taiwan and South Korea together account for about half the index, led by chipmakers.\nIndia, in contrast, looks quite different. In the Nifty 50, IT is around ~8% while financial services, consumer goods, energy, autos and infrastructure make up some of its largest sectors. Many of these businesses are closely tied to Indian households and businesses, with their earnings more dependent on India's domestic economy than on the global chip or AI cycle.\nHistorical data supports this distinction. Over the year to 30 September 2026, MSCI India's daily returns in USD had a correlation of just 0.13 with the NASDAQ 100, 0.13 with the S&amp;P 500 and 0.20 with MSCI World. These figures suggest relatively low historical correlation with major global equity markets. However, correlations do change over time, and can rise when markets are under stress.\n<img src=\"https://community-static.tradeup.com/news/4a310f31aa54dcb292d64c42824f708a\" tg-width=\"552\" tg-height=\"293\">\nSource: MSCI, Bloomberg- daily 1yr correlation in USD as of 30th September 2026. Color bands based on statistical significance: In Blue- Most significant, In orange- Significant, in Yellow- Less Significant\n4.&nbsp;Valuations: where India stands today\nIndia has long been considered one of the pricier emerging markets. However, the latest numbers tell a more nuanced story:\n<ul>\n <li>\n The Nifty 50's trailing P/E is 20.38x, below its 10-year average of 23.49x.</li>\n <li>\n Its trailing P/B is 2.88x, below its 10-year average of 3.17x.</li>\n <li>\n India's price-to-book premium over MSCI EM has narrowed to around 25–30%, against a long-term average of about 70%. (Bloomberg as of 30(th) September’26)</li>\n</ul>\nIndia is not necessarily cheap in absolute terms. But compared with its own history, valuations today sit below their long-run averages.\n<img src=\"https://community-static.tradeup.com/news/62a4da3145257d0b0977b5c857c71b2e\" tg-width=\"776\" tg-height=\"447\">\n<img src=\"https://community-static.tradeup.com/news/6eee039ad9e25ece8f8c12ad944a59e9\" tg-width=\"765\" tg-height=\"369\">\nWhy invest in the UTI India Nifty 50 Index ETF VCC?\n1. Own India's 50 blue chips in a single trade\nPicking individual Indian stocks from Singapore isn't easy. The Nifty 50 brings together 50 of India's largest and most liquid companies, including banks, consumer brands, energy, IT and carmakers. Together, they account for about 54% of NSE's free-float market capitalisation.\n<img src=\"https://community-static.tradeup.com/news/6b47871b76947fbdc753c15074822906\" tg-width=\"828\" tg-height=\"551\">\n2.&nbsp;Built on an established Nifty 50 fund in India\nUTI AMC launched one of India's earliest Nifty 50 index funds. The Singapore-domiciled ETF invests in UTI AMC's Nifty 50 ETF in India, which had about US$7.6 billion in AUM as of 30 September 2026.\n3.&nbsp;Singapore convenience\nYou don't need an Indian brokerage account, and you don't have to stay up for Mumbai trading hours. The ETF trades on SGX during Singapore trading hours, in USD or SGD, with the flexibility to buy as little as one share. The Fund is an Excluded Investment Product and can be bought on SGX with SRS monies, subject to SRS operator terms.\nThe Fund's assets are held in rupees, so movements in the rupee against the US dollar or Singapore dollar will affect your returns.\n4.&nbsp;Tax considerations &amp; Fund structure\nMost India funds available to foreign investors hold Indian stocks directly and may incur Indian capital gains tax when selling them at a profit: currently 20% on short-term gains and 12.5% on long-term gains. This tax drag can widen the gap between a fund's return and its index.\nThe UTI India Nifty 50 Index ETF VCC uses a different structure. As a Singapore-domiciled feeder fund, it holds units of an Indian mutual fund rather than Indian shares directly. Under the India–Singapore Double Taxation Avoidance Agreement, capital gains from selling those units may be claimed as exempt from Indian tax. Singapore does not generally tax capital gains.\nHowever, this treaty position is not free from doubt. Indian tax authorities may deny the benefit, and gains could then be taxed, with interest and penalties. Tax rules may also change. Please refer to the Fund's Prospectus for full details and seek independent tax advice.\n<img src=\"https://community-static.tradeup.com/news/dd53c5853d5ccf31e34296e39dd15607\" tg-width=\"552\" tg-height=\"262\">\nKey risks\nThe value of Shares can go down as well as up, and you may lose some or all of your investment. Key risks include:\n<ul>\n <li>\n Single-country and emerging market risk: the Fund is concentrated in India and may be more volatile than globally diversified funds.</li>\n <li>\n Currency and repatriation risk: the Fund invests in INR-denominated assets; the INR is not freely convertible and may move against the USD and SGD.</li>\n <li>\n Feeder fund risk: the Fund's performance depends on the Underlying Fund, which it does not control.</li>\n <li>\n Tracking error risk: fees, expenses and market factors mean returns will not match the Index exactly.</li>\n <li>\n Trading risk: Shares may trade above or below NAV on SGX. There is a risk that trading of the Fund's units could be suspended and that the Fund may be removed from listing on the exchange.</li>\n <li>\n Tax risk: Indian tax law or treaty treatment may change or be applied differently.</li>\n</ul>\nPlease read the Prospectus (Section IX) and Product Highlights Sheet for the full list of risks.\nHow to Subscribe?\nThe UTI India Nifty 50 Index ETF VCC (SGX tickers: NIU) will be available for subscription during the Initial Offer Period from 19 October 2026 to 5 November 2026. The ETF is expected to be listed on SGX on 12 November 2026.\nProduct Highlights Sheet and Prospectus: <a href=\"https://eservices.mas.gov.sg/opera/Public/CIS/ViewSchemeDetail.aspx?schemeID=8dbe84278aaa4f5c81f2364c477cae5c\">MAS OPERA Public Portal</a>\nTo learn more about the UTI India Nifty 50 Index ETF VCC, visit <a href=\"https://www.utifunds.com\">www.utifunds.com</a>.\n\nTerms and Conditions for USD12* Cash Coupon Campaign Rewards\n1.0 Campaign Period and Eligibility\n1.1 The UTI India Nifty 50 Index ETF VCC IOP promotion campaign (the “Campaign”) is organised and conducted by Tiger Brokers (Singapore) Pte. Ltd. (“Tiger Brokers”).\n1.2 The Campaign runs from 09:00:00 (SG time) on 19 October 2026 to 17:00:00 (SG time) on 5 November 2026 (the “Campaign Period”).\n1.3 The Campaign is open to new and existing clients of Tiger Brokers who:\n&nbsp;&nbsp;(a) hold a Prime Account with Tiger Brokers (an “Eligible Client”);\n&nbsp;&nbsp;(b) have subscribe for units in UTI India Nifty 50 Index ETF VCC (stock code: NIU) (the “Fund”) through the Tiger Trade App during the Campaign Period.\n1.4 Each prime account can only register once.\n2.0 How to subscribe\n2.1 Go to the Portfolio page in the Tiger Trade App and tap More &gt; IPO.\n2.2 Select SG.\n2.3 Tap subscribe to UTI India Nifty 50 Index ETF VCC.\n2.4 Enter your intended subscription amount and tap Subscribe Now to submit your subscription.\n3.0 Campaign Rewards and Terms\n3.1 Eligible Clients will receive a cash coupon of USD 12 for every USD 5,000 subscribed by them in the Fund during the Campaign Period (the “Cash Coupon”), up to a maximum of USD 600 per Eligible Client.\n3.2 To receive the cash coupon, the eligible client must continuously hold the units subscribe in their Tiger Brokers account for at least one (1) month from the Fund’s listing date of 12 November 2026 (the “Holding Period”).The Holding Period ends on 12 December 2026.\n3.4 If an eligible client sells, transfers or otherwise disposes of any of the units subcribed for before the end of the holding period, the eligible client will not be entitled to any cash coupon under the Campaign, regardless of the number of units disposed of or the amount of units retained.\n3.5 The cash coupon will be credited to the eligible Client’s Tiger Brokers account within ten (10) business days after the holding period ends. The eligible client’s account must be active and in good standing at that time.\n4.0 Conditions of rewards\nCash coupon(s)\n4.1 Cash coupon rewards are deposited in user’s Tiger account and can be used to offset the amount of an order. Clients who have opened an account can activate the cash rewards (specific terms and conditions apply). When the reward status becomes “Delivering”, the cash rewards will be credited to client’s account according to the specific time provided by the campaign.\n4.2 By participating in campaign and receiving the rewards in your account, you agree that you will only withdraw the proceeds generated from the rewards after you have successfully completed 10 fully filled orders (since your account opening). Filled orders with amount less than USD 3 or equivalent value or currency exchange orders will not be counted.\nOther notes\n<ul>\n <li>\n This promotion reward does not conflict with other Tiger Brokers campaign rewards in the same period.</li>\n <li>\n For further inquiries, please call our customer service hotline (65) 63312277 or consult our online customer service via <a href=\"https://www.itiger.com/sg\">https://www.itiger.com/sg</a></li>\n <li>\n Tiger Brokers reserves the right, at its sole discretion, to determine the eligibility of participants for the Campaign or receipt of rewards. The decisions of Tiger Brokers on all Campaign-related matters are final and binding on participants. Tiger Brokers is under no obligation to disclose any Campaign-related matters or results to the participants.</li>\n <li>\n Please refer to <a href=\"https://www.itiger.com/sg/commissions/fees\">https://www.itiger.com/sg/commissions/fees</a> for details of fee charges.</li>\n</ul>\nDisclaimer\n<ul>\n <li>\n Notwithstanding anything herein, Tiger Brokers reserves the right, at its sole discretion, to determine the eligibility of participants for the Campaign / Promotion or receipt of rewards. The decisions of Tiger Brokers on all Campaign / Promotion-related matters are final and binding on participants. Tiger Brokers is under no obligation to disclose any Campaign / Promotion-related matters or results to the participants.</li>\n <li>\n Tiger Brokers shall not be liable in any way to any participant or any other person for any injury, loss, damage, or expense incurred by any participant or any other person in connection with the Campaign / Promotion. This includes, but is not limited to, losses (including lost opportunities) resulting from late or non-notification, computation errors, technical issues, hardware or software malfunctions, incorrect transactions, lost or unavailable network connections, or misdirected notices.</li>\n <li>\n By participating in this Campaign/Promotion, participants agree to release and hold Tiger Brokers harmless from any liability for any injuries, losses, or damages of any kind to any person or property arising from:\n &nbsp;&nbsp;a) the awarding, acceptance, receipt, possession, use, or misuse of any rewards or parts thereof awarded pursuant to the Campaign; and\n &nbsp;&nbsp;b) participation in the Campaign or promotion-related activities.</li>\n <li>\n Tiger Brokers may, at any time at its sole discretion and without prior notice, vary, modify, delete, or add to these Terms and Conditions (including the Campaign Period, the conduct of the Campaign, and the Campaign Mechanics) and may also suspend or terminate the Campaign or substitute the rewards at any time without any notice or liability to any person.</li>\n <li>\n In case of any inconsistency between these Terms and Conditions and any marketing or promotional materials related to the Campaign / Promotion, these Terms and Conditions shall prevail.</li>\n <li>\n These Terms and Conditions should be read alongside the Tiger Brokers Customer Agreement, which applies to all participants.</li>\n <li>\n These Terms and Conditions are governed by and construed in accordance with Singapore law, and the Singapore courts have exclusive jurisdiction.</li>\n <li>\n Any person who is not a party to any agreement governed by these terms and conditions shall have no right under the Contracts (Rights of Third Parties) Act 2001 to enforce any of these terms and conditions and notwithstanding any terms herein, the consent of any third party is not required for any variation (including any release or compromise of any liability) or termination of these Terms and Conditions.</li>\n <li>\n The information provided herein is for reference only and does not constitute, and should not be considered as:\n &nbsp;&nbsp;a) an offer, recommendation, or solicitation to purchase or sell any financial products or services; or\n &nbsp;&nbsp;b) a proposal to make any financial decisions; or\n &nbsp;&nbsp;c) any investment advice.</li>\n <li>\n Investing in financial products always involves inherent risks of loss. Tiger Brokers accepts no liability for any losses related to investors' investment activities. Past performance does not guarantee future results.</li>\n <li>\n This advertisement has not been reviewed by the Monetary Authority of Singapore.</li>\n</ul>\nDisclaimer - UTI International (Singapore) Private Limited\nThis advertisement has not been reviewed by the Monetary Authority of Singapore. The information herein is for informational purposes only and does not constitute a recommendation, offer or solicitation to buy or sell Shares in the Fund. It does not consider the specific investment objectives, financial situation or particular needs of any person. You should read the Prospectus and Product Highlights Sheet of the UTI India Nifty 50 Index ETF VCC, available at www.utifunds.com or from the Manager's business address at 3 Church Street, #22-01 Samsung Hub, Singapore 049483, before deciding whether to invest. You may wish to seek advice from a financial adviser before investing. If you choose not to, you should consider whether the Fund is suitable for you.\nInvestments in the Fund are subject to investment risks, including the possible loss of the principal amount invested. The value of Shares and any income from them may fall or rise. Past performance, and any prediction, projection or forecast, is not necessarily indicative of future performance. The Fund is a feeder fund concentrated in a single country (India) and may be more volatile than funds with more diversified portfolios. Returns of the Underlying Fund and the Index are shown in INR; returns to investors in USD or SGD will be affected by currency movements.\nThe Shares are listed on the SGX-ST. Listing does not guarantee a liquid market for the Shares. The trading price of Shares on the SGX-ST may differ from their Net Asset Value per Share, and Shares may be suspended or delisted. The ETF differs from a typical unit trust: Shares may only be created or redeemed directly by Participating Dealers in Creation or Redemption Units of 50,000 Shares. Investors who hold fewer Shares can only realise their value by selling on the SGX-ST.\nTax treatment depends on individual circumstances and may change. The availability of treaty benefits described in this material is not assured. Investors should seek independent tax advice.\nThe information contained herein may not be copied, reproduced or redistributed without the express consent of UTI International (Singapore) Private Limited. While reasonable care has been taken to ensure its accuracy, no warranty or representation is given, and no liability is accepted for any loss arising from reliance on this material. Information may change without notice. UTI International (Singapore) Private Limited, Company Registration No. 200617079Z. UTI India Nifty 50 Index ETF VCC, Company Registration No. T26VC0077H.\n<h2>Index Disclaimer - NSE Indices Limited</h2>\nIndex disclaimer: The Nifty indices referenced in this article are owned and maintained by NSE Indices Limited. For the full index-specific disclaimer, please refer to <a href=\"https://www.niftyindices.com/disclaimer\">www.niftyindices.com/disclaimer</a>.</body></html>","htmlText":"<html><head></head><body>Access India's largest listed companies in USD or SGD, during Singapore trading hours\n<img src=\"https://community-static.tradeup.com/news/f5bd3d757e50200f6ed67f03ce114f5a\" tg-width=\"1200\" tg-height=\"630\">\n<blockquote>\n Receive up to USD$600^ Cash Coupon when you subscribe to the UTI India Nifty 50 Index ETF VCC during the Initial Offer Period.\n</blockquote>\n<h2>Introducing the UTI India Nifty 50 Index ETF VCC</h2>\nOn 12 November 2026, India's 50 biggest companies come to SGX. The UTI India Nifty 50 Index ETF VCC is the first Nifty 50 ETF listed in Singapore. With this ETF, you can invest in India's largest companies using your existing Singapore brokerage account, during Singapore trading hours, in US (ticker: NIU) or S$ (ticker: NIF).\nThe Fund's investment objective is to track as closely as possible, before fees and expenses, the returns of the Nifty 50 Index (the \"Index\"). The Index represents 50 of the largest and most liquid companies listed on India's National Stock Exchange.\nThe Fund is a feeder fund. It seeks to achieve its objective by investing all or substantially all of its Net Asset Value into the UTI Nifty 50 Exchange Traded Fund (the \"Underlying Fund\"), which is listed in India and managed by UTI Asset Management Company Limited (“UTI AMC”). This makes it the first authorised scheme under the MAS Code on Collective Investment Schemes to feed directly into an India-domiciled fund.\nSpecial Promotion\nReceive up to USD$600^ Cash Coupon when you subscribe to the UTI India Nifty 50 Index ETF VCC during the Initial Offer Period.\n<img src=\"https://community-static.tradeup.com/news/60b3118c57aa0dd9bf6de8988b840840\" tg-width=\"1015\" tg-height=\"340\">\n[Webinar] The Diversification Gap - Why Your Portfolio Should be Overweight India\n<img src=\"https://community-static.tradeup.com/news/1ea9473dbac63a475da1e56e47c3cc21\" tg-width=\"414\" tg-height=\"217\">\nIndia is one of the world's fastest-growing major economies, yet it remains a small slice of most global portfolios. Join Jermyn Wong, CEO of UTI International (Singapore) Private Limited, as he makes the case for a meaningful allocation. He will cover what is driving India's growth, why the market has historically moved differently from US and global equities, and why today's valuations may offer an attractive entry point. He will also introduce the UTI India Nifty 50 Index ETF VCC and how it gives Singapore investors easy access to India's 50 blue-chips.\nEvent details\n<ul>\n <li>\n Date: 27 October 2026</li>\n <li>\n Time: 7-8pm</li>\n <li>\n Venue: Online webinar</li>\n <li>\n Tune In via: <a href=\"https://tigr.link/9ATOTu\" target=\"_blank\">https://tigr.link/9ATOTu</a></li>\n</ul>\nWhy investors should be taking a closer look at India\nAsk investors where the next decade of growth might come from, and India comes up quickly. Ask how much India they actually own, and the answer is usually very little. India has more than 1.4 billion people, and its economy has roughly doubled in the last ten years to become the fifth-largest in the world. Yet it is still a small part of most global portfolios. Many investors recognise India's long-term growth potential but have yet to translate that conviction into meaningful portfolio exposure.\nHere are four reasons why it may be worth a closer look:\n1. An economy that doubled in a decade\nIn 2015, India's economy was about US$2.1 trillion. By 2025, it had grown to around US$4.3 trillion, making India the world's fifth-largest economy.\nIndia's growth momentum remains strong. Its GDP grew 6.5% in 2025, ahead of China (4.8%), the US (2.0%), the Euro Area (1.2%) and Japan (1.1%), based on IMF data.\nWhat sets India apart is the composition of its growth. Domestic consumption makes up around 60% of GDP, making India less reliant on exports than many other emerging economies. Meanwhile, public infrastructure investment, manufacturing, digital payments and services exports provide additional growth drivers.\n<img src=\"https://community-static.tradeup.com/news/4e3a876493fe41ca9ab68c7f23f364b4\" tg-width=\"828\" tg-height=\"467\">\n2.&nbsp;&nbsp;&nbsp;A deep market with a long record\nIndia’s stock market has expanded significantly, with National Stock Exchange’s (NSE) market capitalisation reaching approximately US$5.3 trillion in April 2026. This reflects the growing scale and depth of India’s equity market.\nCut through the short-term noise and look at the long-term picture, India’s record stands out. Over the 25 years to 30 September 2026, the Nifty 50 returned 12.3% a year in USD terms. That was the highest of the 16 major markets compared. This outpaced the S&amp;P 500 (10.3%) and MSCI Emerging Markets (10.9%).\nOver those many years, the gap compounds into a big difference. At those rates, US$10,000 would have grown to about US$182,000 in the Nifty 50, compared with about US$116,000 in the S&amp;P 500.*&nbsp; Along the way, India's market has also experienced several sharp falls, including during the 2008 Global Financial Crisis and the 2020 COVID-19 sell-off, and it recovered from each of them.\n*Hypothetical illustration based on index annualised returns over 25 years to 30 September 2026, before fees, expenses and taxes. Not the performance of the Fund. Past performance is not necessarily indicative of future performance.\n<img src=\"https://community-static.tradeup.com/news/5ef8e93a938dd9606d29df2a32ac990e\" tg-width=\"552\" tg-height=\"331\">\nSource: Bloomberg, Data as of 30 September 2026. Countries shown represent a selected group of emerging markets for illustrative comparison purposes and do not represent the full emerging markets universe. Selection is based on markets considered relevant for regional and peer comparison. Other emerging markets, including markets with higher or lower returns, may not be shown.\n3. A diversifier for global portfolios\nMany investors believe their portfolios are well diversified. Look closer, much of that exposure is riding on one theme: technology. In the US, the market's growth has come largely from a handful of big tech companies. Emerging markets might look like the place to diversify, but MSCI Emerging Markets has also become increasingly tech-heavy, with Information Technology (IT) accounting for around 44% of the index. Taiwan and South Korea together account for about half the index, led by chipmakers.\nIndia, in contrast, looks quite different. In the Nifty 50, IT is around ~8% while financial services, consumer goods, energy, autos and infrastructure make up some of its largest sectors. Many of these businesses are closely tied to Indian households and businesses, with their earnings more dependent on India's domestic economy than on the global chip or AI cycle.\nHistorical data supports this distinction. Over the year to 30 September 2026, MSCI India's daily returns in USD had a correlation of just 0.13 with the NASDAQ 100, 0.13 with the S&amp;P 500 and 0.20 with MSCI World. These figures suggest relatively low historical correlation with major global equity markets. However, correlations do change over time, and can rise when markets are under stress.\n<img src=\"https://community-static.tradeup.com/news/4a310f31aa54dcb292d64c42824f708a\" tg-width=\"552\" tg-height=\"293\">\nSource: MSCI, Bloomberg- daily 1yr correlation in USD as of 30th September 2026. Color bands based on statistical significance: In Blue- Most significant, In orange- Significant, in Yellow- Less Significant\n4.&nbsp;Valuations: where India stands today\nIndia has long been considered one of the pricier emerging markets. However, the latest numbers tell a more nuanced story:\n<ul>\n <li>\n The Nifty 50's trailing P/E is 20.38x, below its 10-year average of 23.49x.</li>\n <li>\n Its trailing P/B is 2.88x, below its 10-year average of 3.17x.</li>\n <li>\n India's price-to-book premium over MSCI EM has narrowed to around 25–30%, against a long-term average of about 70%. (Bloomberg as of 30(th) September’26)</li>\n</ul>\nIndia is not necessarily cheap in absolute terms. But compared with its own history, valuations today sit below their long-run averages.\n<img src=\"https://community-static.tradeup.com/news/62a4da3145257d0b0977b5c857c71b2e\" tg-width=\"776\" tg-height=\"447\">\n<img src=\"https://community-static.tradeup.com/news/6eee039ad9e25ece8f8c12ad944a59e9\" tg-width=\"765\" tg-height=\"369\">\nWhy invest in the UTI India Nifty 50 Index ETF VCC?\n1. Own India's 50 blue chips in a single trade\nPicking individual Indian stocks from Singapore isn't easy. The Nifty 50 brings together 50 of India's largest and most liquid companies, including banks, consumer brands, energy, IT and carmakers. Together, they account for about 54% of NSE's free-float market capitalisation.\n<img src=\"https://community-static.tradeup.com/news/6b47871b76947fbdc753c15074822906\" tg-width=\"828\" tg-height=\"551\">\n2.&nbsp;Built on an established Nifty 50 fund in India\nUTI AMC launched one of India's earliest Nifty 50 index funds. The Singapore-domiciled ETF invests in UTI AMC's Nifty 50 ETF in India, which had about US$7.6 billion in AUM as of 30 September 2026.\n3.&nbsp;Singapore convenience\nYou don't need an Indian brokerage account, and you don't have to stay up for Mumbai trading hours. The ETF trades on SGX during Singapore trading hours, in USD or SGD, with the flexibility to buy as little as one share. The Fund is an Excluded Investment Product and can be bought on SGX with SRS monies, subject to SRS operator terms.\nThe Fund's assets are held in rupees, so movements in the rupee against the US dollar or Singapore dollar will affect your returns.\n4.&nbsp;Tax considerations &amp; Fund structure\nMost India funds available to foreign investors hold Indian stocks directly and may incur Indian capital gains tax when selling them at a profit: currently 20% on short-term gains and 12.5% on long-term gains. This tax drag can widen the gap between a fund's return and its index.\nThe UTI India Nifty 50 Index ETF VCC uses a different structure. As a Singapore-domiciled feeder fund, it holds units of an Indian mutual fund rather than Indian shares directly. Under the India–Singapore Double Taxation Avoidance Agreement, capital gains from selling those units may be claimed as exempt from Indian tax. Singapore does not generally tax capital gains.\nHowever, this treaty position is not free from doubt. Indian tax authorities may deny the benefit, and gains could then be taxed, with interest and penalties. Tax rules may also change. Please refer to the Fund's Prospectus for full details and seek independent tax advice.\n<img src=\"https://community-static.tradeup.com/news/dd53c5853d5ccf31e34296e39dd15607\" tg-width=\"552\" tg-height=\"262\">\nKey risks\nThe value of Shares can go down as well as up, and you may lose some or all of your investment. Key risks include:\n<ul>\n <li>\n Single-country and emerging market risk: the Fund is concentrated in India and may be more volatile than globally diversified funds.</li>\n <li>\n Currency and repatriation risk: the Fund invests in INR-denominated assets; the INR is not freely convertible and may move against the USD and SGD.</li>\n <li>\n Feeder fund risk: the Fund's performance depends on the Underlying Fund, which it does not control.</li>\n <li>\n Tracking error risk: fees, expenses and market factors mean returns will not match the Index exactly.</li>\n <li>\n Trading risk: Shares may trade above or below NAV on SGX. There is a risk that trading of the Fund's units could be suspended and that the Fund may be removed from listing on the exchange.</li>\n <li>\n Tax risk: Indian tax law or treaty treatment may change or be applied differently.</li>\n</ul>\nPlease read the Prospectus (Section IX) and Product Highlights Sheet for the full list of risks.\nHow to Subscribe?\nThe UTI India Nifty 50 Index ETF VCC (SGX tickers: NIU) will be available for subscription during the Initial Offer Period from 19 October 2026 to 5 November 2026. The ETF is expected to be listed on SGX on 12 November 2026.\nProduct Highlights Sheet and Prospectus: <a href=\"https://eservices.mas.gov.sg/opera/Public/CIS/ViewSchemeDetail.aspx?schemeID=8dbe84278aaa4f5c81f2364c477cae5c\">MAS OPERA Public Portal</a>\nTo learn more about the UTI India Nifty 50 Index ETF VCC, visit <a href=\"https://www.utifunds.com\">www.utifunds.com</a>.\n\nTerms and Conditions for USD12* Cash Coupon Campaign Rewards\n1.0 Campaign Period and Eligibility\n1.1 The UTI India Nifty 50 Index ETF VCC IOP promotion campaign (the “Campaign”) is organised and conducted by Tiger Brokers (Singapore) Pte. Ltd. (“Tiger Brokers”).\n1.2 The Campaign runs from 09:00:00 (SG time) on 19 October 2026 to 17:00:00 (SG time) on 5 November 2026 (the “Campaign Period”).\n1.3 The Campaign is open to new and existing clients of Tiger Brokers who:\n&nbsp;&nbsp;(a) hold a Prime Account with Tiger Brokers (an “Eligible Client”);\n&nbsp;&nbsp;(b) have subscribe for units in UTI India Nifty 50 Index ETF VCC (stock code: NIU) (the “Fund”) through the Tiger Trade App during the Campaign Period.\n1.4 Each prime account can only register once.\n2.0 How to subscribe\n2.1 Go to the Portfolio page in the Tiger Trade App and tap More &gt; IPO.\n2.2 Select SG.\n2.3 Tap subscribe to UTI India Nifty 50 Index ETF VCC.\n2.4 Enter your intended subscription amount and tap Subscribe Now to submit your subscription.\n3.0 Campaign Rewards and Terms\n3.1 Eligible Clients will receive a cash coupon of USD 12 for every USD 5,000 subscribed by them in the Fund during the Campaign Period (the “Cash Coupon”), up to a maximum of USD 600 per Eligible Client.\n3.2 To receive the cash coupon, the eligible client must continuously hold the units subscribe in their Tiger Brokers account for at least one (1) month from the Fund’s listing date of 12 November 2026 (the “Holding Period”).The Holding Period ends on 12 December 2026.\n3.4 If an eligible client sells, transfers or otherwise disposes of any of the units subcribed for before the end of the holding period, the eligible client will not be entitled to any cash coupon under the Campaign, regardless of the number of units disposed of or the amount of units retained.\n3.5 The cash coupon will be credited to the eligible Client’s Tiger Brokers account within ten (10) business days after the holding period ends. The eligible client’s account must be active and in good standing at that time.\n4.0 Conditions of rewards\nCash coupon(s)\n4.1 Cash coupon rewards are deposited in user’s Tiger account and can be used to offset the amount of an order. Clients who have opened an account can activate the cash rewards (specific terms and conditions apply). When the reward status becomes “Delivering”, the cash rewards will be credited to client’s account according to the specific time provided by the campaign.\n4.2 By participating in campaign and receiving the rewards in your account, you agree that you will only withdraw the proceeds generated from the rewards after you have successfully completed 10 fully filled orders (since your account opening). Filled orders with amount less than USD 3 or equivalent value or currency exchange orders will not be counted.\nOther notes\n<ul>\n <li>\n This promotion reward does not conflict with other Tiger Brokers campaign rewards in the same period.</li>\n <li>\n For further inquiries, please call our customer service hotline (65) 63312277 or consult our online customer service via <a href=\"https://www.itiger.com/sg\">https://www.itiger.com/sg</a></li>\n <li>\n Tiger Brokers reserves the right, at its sole discretion, to determine the eligibility of participants for the Campaign or receipt of rewards. The decisions of Tiger Brokers on all Campaign-related matters are final and binding on participants. Tiger Brokers is under no obligation to disclose any Campaign-related matters or results to the participants.</li>\n <li>\n Please refer to <a href=\"https://www.itiger.com/sg/commissions/fees\">https://www.itiger.com/sg/commissions/fees</a> for details of fee charges.</li>\n</ul>\nDisclaimer\n<ul>\n <li>\n Notwithstanding anything herein, Tiger Brokers reserves the right, at its sole discretion, to determine the eligibility of participants for the Campaign / Promotion or receipt of rewards. The decisions of Tiger Brokers on all Campaign / Promotion-related matters are final and binding on participants. Tiger Brokers is under no obligation to disclose any Campaign / Promotion-related matters or results to the participants.</li>\n <li>\n Tiger Brokers shall not be liable in any way to any participant or any other person for any injury, loss, damage, or expense incurred by any participant or any other person in connection with the Campaign / Promotion. This includes, but is not limited to, losses (including lost opportunities) resulting from late or non-notification, computation errors, technical issues, hardware or software malfunctions, incorrect transactions, lost or unavailable network connections, or misdirected notices.</li>\n <li>\n By participating in this Campaign/Promotion, participants agree to release and hold Tiger Brokers harmless from any liability for any injuries, losses, or damages of any kind to any person or property arising from:\n &nbsp;&nbsp;a) the awarding, acceptance, receipt, possession, use, or misuse of any rewards or parts thereof awarded pursuant to the Campaign; and\n &nbsp;&nbsp;b) participation in the Campaign or promotion-related activities.</li>\n <li>\n Tiger Brokers may, at any time at its sole discretion and without prior notice, vary, modify, delete, or add to these Terms and Conditions (including the Campaign Period, the conduct of the Campaign, and the Campaign Mechanics) and may also suspend or terminate the Campaign or substitute the rewards at any time without any notice or liability to any person.</li>\n <li>\n In case of any inconsistency between these Terms and Conditions and any marketing or promotional materials related to the Campaign / Promotion, these Terms and Conditions shall prevail.</li>\n <li>\n These Terms and Conditions should be read alongside the Tiger Brokers Customer Agreement, which applies to all participants.</li>\n <li>\n These Terms and Conditions are governed by and construed in accordance with Singapore law, and the Singapore courts have exclusive jurisdiction.</li>\n <li>\n Any person who is not a party to any agreement governed by these terms and conditions shall have no right under the Contracts (Rights of Third Parties) Act 2001 to enforce any of these terms and conditions and notwithstanding any terms herein, the consent of any third party is not required for any variation (including any release or compromise of any liability) or termination of these Terms and Conditions.</li>\n <li>\n The information provided herein is for reference only and does not constitute, and should not be considered as:\n &nbsp;&nbsp;a) an offer, recommendation, or solicitation to purchase or sell any financial products or services; or\n &nbsp;&nbsp;b) a proposal to make any financial decisions; or\n &nbsp;&nbsp;c) any investment advice.</li>\n <li>\n Investing in financial products always involves inherent risks of loss. Tiger Brokers accepts no liability for any losses related to investors' investment activities. Past performance does not guarantee future results.</li>\n <li>\n This advertisement has not been reviewed by the Monetary Authority of Singapore.</li>\n</ul>\nDisclaimer - UTI International (Singapore) Private Limited\nThis advertisement has not been reviewed by the Monetary Authority of Singapore. The information herein is for informational purposes only and does not constitute a recommendation, offer or solicitation to buy or sell Shares in the Fund. It does not consider the specific investment objectives, financial situation or particular needs of any person. You should read the Prospectus and Product Highlights Sheet of the UTI India Nifty 50 Index ETF VCC, available at www.utifunds.com or from the Manager's business address at 3 Church Street, #22-01 Samsung Hub, Singapore 049483, before deciding whether to invest. You may wish to seek advice from a financial adviser before investing. If you choose not to, you should consider whether the Fund is suitable for you.\nInvestments in the Fund are subject to investment risks, including the possible loss of the principal amount invested. The value of Shares and any income from them may fall or rise. Past performance, and any prediction, projection or forecast, is not necessarily indicative of future performance. The Fund is a feeder fund concentrated in a single country (India) and may be more volatile than funds with more diversified portfolios. Returns of the Underlying Fund and the Index are shown in INR; returns to investors in USD or SGD will be affected by currency movements.\nThe Shares are listed on the SGX-ST. Listing does not guarantee a liquid market for the Shares. The trading price of Shares on the SGX-ST may differ from their Net Asset Value per Share, and Shares may be suspended or delisted. The ETF differs from a typical unit trust: Shares may only be created or redeemed directly by Participating Dealers in Creation or Redemption Units of 50,000 Shares. Investors who hold fewer Shares can only realise their value by selling on the SGX-ST.\nTax treatment depends on individual circumstances and may change. The availability of treaty benefits described in this material is not assured. Investors should seek independent tax advice.\nThe information contained herein may not be copied, reproduced or redistributed without the express consent of UTI International (Singapore) Private Limited. While reasonable care has been taken to ensure its accuracy, no warranty or representation is given, and no liability is accepted for any loss arising from reliance on this material. Information may change without notice. UTI International (Singapore) Private Limited, Company Registration No. 200617079Z. UTI India Nifty 50 Index ETF VCC, Company Registration No. T26VC0077H.\n<h2>Index Disclaimer - NSE Indices Limited</h2>\nIndex disclaimer: The Nifty indices referenced in this article are owned and maintained by NSE Indices Limited. For the full index-specific disclaimer, please refer to <a href=\"https://www.niftyindices.com/disclaimer\">www.niftyindices.com/disclaimer</a>.</body></html>","text":"Access India's largest listed companies in USD or SGD, during Singapore trading hours Receive up to USD$600^ Cash Coupon when you subscribe to the UTI India Nifty 50 Index ETF VCC during the Initial Offer Period. Introducing the UTI India Nifty 50 Index ETF VCC On 12 November 2026, India's 50 biggest companies come to SGX. The UTI India Nifty 50 Index ETF VCC is the first Nifty 50 ETF listed in Singapore. With this ETF, you can invest in India's largest companies using your existing Singapore brokerage account, during Singapore trading hours, in US (ticker: NIU) or S$ (ticker: NIF). The Fund's investment objective is to track as closely as possible, before fees and expenses, the returns of the Nifty 50 Index (the \"Index\"). The Index represents 50 of the largest and most liquid companies listed on India's National Stock Exchange. The Fund is a feeder fund. It seeks to achieve its objective by investing all or substantially all of its Net Asset Value into the UTI Nifty 50 Exchange Traded Fund (the \"Underlying Fund\"), which is listed in India and managed by UTI Asset Management Company Limited (“UTI AMC”). This makes it the first authorised scheme under the MAS Code on Collective Investment Schemes to feed directly into an India-domiciled fund. Special Promotion Receive up to USD$600^ Cash Coupon when you subscribe to the UTI India Nifty 50 Index ETF VCC during the Initial Offer Period. [Webinar] The Diversification Gap - Why Your Portfolio Should be Overweight India India is one of the world's fastest-growing major economies, yet it remains a small slice of most global portfolios. Join Jermyn Wong, CEO of UTI International (Singapore) Private Limited, as he makes the case for a meaningful allocation. He will cover what is driving India's growth, why the market has historically moved differently from US and global equities, and why today's valuations may offer an attractive entry point. He will also introduce the UTI India Nifty 50 Index ETF VCC and how it gives Singapore investors easy access to India's 50 blue-chips. Event details Date: 27 October 2026 Time: 7-8pm Venue: Online webinar Tune In via: https://tigr.link/9ATOTu Why investors should be taking a closer look at India Ask investors where the next decade of growth might come from, and India comes up quickly. Ask how much India they actually own, and the answer is usually very little. India has more than 1.4 billion people, and its economy has roughly doubled in the last ten years to become the fifth-largest in the world. Yet it is still a small part of most global portfolios. Many investors recognise India's long-term growth potential but have yet to translate that conviction into meaningful portfolio exposure. Here are four reasons why it may be worth a closer look: 1. An economy that doubled in a decade In 2015, India's economy was about US$2.1 trillion. By 2025, it had grown to around US$4.3 trillion, making India the world's fifth-largest economy. India's growth momentum remains strong. Its GDP grew 6.5% in 2025, ahead of China (4.8%), the US (2.0%), the Euro Area (1.2%) and Japan (1.1%), based on IMF data. What sets India apart is the composition of its growth. Domestic consumption makes up around 60% of GDP, making India less reliant on exports than many other emerging economies. Meanwhile, public infrastructure investment, manufacturing, digital payments and services exports provide additional growth drivers. 2. A deep market with a long record India’s stock market has expanded significantly, with National Stock Exchange’s (NSE) market capitalisation reaching approximately US$5.3 trillion in April 2026. This reflects the growing scale and depth of India’s equity market. Cut through the short-term noise and look at the long-term picture, India’s record stands out. Over the 25 years to 30 September 2026, the Nifty 50 returned 12.3% a year in USD terms. That was the highest of the 16 major markets compared. This outpaced the S&P 500 (10.3%) and MSCI Emerging Markets (10.9%). Over those many years, the gap compounds into a big difference. At those rates, US$10,000 would have grown to about US$182,000 in the Nifty 50, compared with about US$116,000 in the S&P 500.* Along the way, India's market has also experienced several sharp falls, including during the 2008 Global Financial Crisis and the 2020 COVID-19 sell-off, and it recovered from each of them. *Hypothetical illustration based on index annualised returns over 25 years to 30 September 2026, before fees, expenses and taxes. Not the performance of the Fund. Past performance is not necessarily indicative of future performance. Source: Bloomberg, Data as of 30 September 2026. Countries shown represent a selected group of emerging markets for illustrative comparison purposes and do not represent the full emerging markets universe. Selection is based on markets considered relevant for regional and peer comparison. Other emerging markets, including markets with higher or lower returns, may not be shown. 3. A diversifier for global portfolios Many investors believe their portfolios are well diversified. Look closer, much of that exposure is riding on one theme: technology. In the US, the market's growth has come largely from a handful of big tech companies. Emerging markets might look like the place to diversify, but MSCI Emerging Markets has also become increasingly tech-heavy, with Information Technology (IT) accounting for around 44% of the index. Taiwan and South Korea together account for about half the index, led by chipmakers. India, in contrast, looks quite different. In the Nifty 50, IT is around ~8% while financial services, consumer goods, energy, autos and infrastructure make up some of its largest sectors. Many of these businesses are closely tied to Indian households and businesses, with their earnings more dependent on India's domestic economy than on the global chip or AI cycle. Historical data supports this distinction. Over the year to 30 September 2026, MSCI India's daily returns in USD had a correlation of just 0.13 with the NASDAQ 100, 0.13 with the S&P 500 and 0.20 with MSCI World. These figures suggest relatively low historical correlation with major global equity markets. However, correlations do change over time, and can rise when markets are under stress. Source: MSCI, Bloomberg- daily 1yr correlation in USD as of 30th September 2026. Color bands based on statistical significance: In Blue- Most significant, In orange- Significant, in Yellow- Less Significant 4. Valuations: where India stands today India has long been considered one of the pricier emerging markets. However, the latest numbers tell a more nuanced story: The Nifty 50's trailing P/E is 20.38x, below its 10-year average of 23.49x. Its trailing P/B is 2.88x, below its 10-year average of 3.17x. India's price-to-book premium over MSCI EM has narrowed to around 25–30%, against a long-term average of about 70%. (Bloomberg as of 30(th) September’26) India is not necessarily cheap in absolute terms. But compared with its own history, valuations today sit below their long-run averages. Why invest in the UTI India Nifty 50 Index ETF VCC? 1. Own India's 50 blue chips in a single trade Picking individual Indian stocks from Singapore isn't easy. The Nifty 50 brings together 50 of India's largest and most liquid companies, including banks, consumer brands, energy, IT and carmakers. Together, they account for about 54% of NSE's free-float market capitalisation. 2. Built on an established Nifty 50 fund in India UTI AMC launched one of India's earliest Nifty 50 index funds. The Singapore-domiciled ETF invests in UTI AMC's Nifty 50 ETF in India, which had about US$7.6 billion in AUM as of 30 September 2026. 3. Singapore convenience You don't need an Indian brokerage account, and you don't have to stay up for Mumbai trading hours. The ETF trades on SGX during Singapore trading hours, in USD or SGD, with the flexibility to buy as little as one share. The Fund is an Excluded Investment Product and can be bought on SGX with SRS monies, subject to SRS operator terms. The Fund's assets are held in rupees, so movements in the rupee against the US dollar or Singapore dollar will affect your returns. 4. Tax considerations & Fund structure Most India funds available to foreign investors hold Indian stocks directly and may incur Indian capital gains tax when selling them at a profit: currently 20% on short-term gains and 12.5% on long-term gains. This tax drag can widen the gap between a fund's return and its index. The UTI India Nifty 50 Index ETF VCC uses a different structure. As a Singapore-domiciled feeder fund, it holds units of an Indian mutual fund rather than Indian shares directly. Under the India–Singapore Double Taxation Avoidance Agreement, capital gains from selling those units may be claimed as exempt from Indian tax. Singapore does not generally tax capital gains. However, this treaty position is not free from doubt. Indian tax authorities may deny the benefit, and gains could then be taxed, with interest and penalties. Tax rules may also change. Please refer to the Fund's Prospectus for full details and seek independent tax advice. Key risks The value of Shares can go down as well as up, and you may lose some or all of your investment. Key risks include: Single-country and emerging market risk: the Fund is concentrated in India and may be more volatile than globally diversified funds. Currency and repatriation risk: the Fund invests in INR-denominated assets; the INR is not freely convertible and may move against the USD and SGD. Feeder fund risk: the Fund's performance depends on the Underlying Fund, which it does not control. Tracking error risk: fees, expenses and market factors mean returns will not match the Index exactly. Trading risk: Shares may trade above or below NAV on SGX. There is a risk that trading of the Fund's units could be suspended and that the Fund may be removed from listing on the exchange. Tax risk: Indian tax law or treaty treatment may change or be applied differently. Please read the Prospectus (Section IX) and Product Highlights Sheet for the full list of risks. How to Subscribe? The UTI India Nifty 50 Index ETF VCC (SGX tickers: NIU) will be available for subscription during the Initial Offer Period from 19 October 2026 to 5 November 2026. The ETF is expected to be listed on SGX on 12 November 2026. Product Highlights Sheet and Prospectus: MAS OPERA Public Portal To learn more about the UTI India Nifty 50 Index ETF VCC, visit www.utifunds.com. Terms and Conditions for USD12* Cash Coupon Campaign Rewards 1.0 Campaign Period and Eligibility 1.1 The UTI India Nifty 50 Index ETF VCC IOP promotion campaign (the “Campaign”) is organised and conducted by Tiger Brokers (Singapore) Pte. Ltd. (“Tiger Brokers”). 1.2 The Campaign runs from 09:00:00 (SG time) on 19 October 2026 to 17:00:00 (SG time) on 5 November 2026 (the “Campaign Period”). 1.3 The Campaign is open to new and existing clients of Tiger Brokers who: (a) hold a Prime Account with Tiger Brokers (an “Eligible Client”); (b) have subscribe for units in UTI India Nifty 50 Index ETF VCC (stock code: NIU) (the “Fund”) through the Tiger Trade App during the Campaign Period. 1.4 Each prime account can only register once. 2.0 How to subscribe 2.1 Go to the Portfolio page in the Tiger Trade App and tap More > IPO. 2.2 Select SG. 2.3 Tap subscribe to UTI India Nifty 50 Index ETF VCC. 2.4 Enter your intended subscription amount and tap Subscribe Now to submit your subscription. 3.0 Campaign Rewards and Terms 3.1 Eligible Clients will receive a cash coupon of USD 12 for every USD 5,000 subscribed by them in the Fund during the Campaign Period (the “Cash Coupon”), up to a maximum of USD 600 per Eligible Client. 3.2 To receive the cash coupon, the eligible client must continuously hold the units subscribe in their Tiger Brokers account for at least one (1) month from the Fund’s listing date of 12 November 2026 (the “Holding Period”).The Holding Period ends on 12 December 2026. 3.4 If an eligible client sells, transfers or otherwise disposes of any of the units subcribed for before the end of the holding period, the eligible client will not be entitled to any cash coupon under the Campaign, regardless of the number of units disposed of or the amount of units retained. 3.5 The cash coupon will be credited to the eligible Client’s Tiger Brokers account within ten (10) business days after the holding period ends. The eligible client’s account must be active and in good standing at that time. 4.0 Conditions of rewards Cash coupon(s) 4.1 Cash coupon rewards are deposited in user’s Tiger account and can be used to offset the amount of an order. Clients who have opened an account can activate the cash rewards (specific terms and conditions apply). When the reward status becomes “Delivering”, the cash rewards will be credited to client’s account according to the specific time provided by the campaign. 4.2 By participating in campaign and receiving the rewards in your account, you agree that you will only withdraw the proceeds generated from the rewards after you have successfully completed 10 fully filled orders (since your account opening). Filled orders with amount less than USD 3 or equivalent value or currency exchange orders will not be counted. Other notes This promotion reward does not conflict with other Tiger Brokers campaign rewards in the same period. For further inquiries, please call our customer service hotline (65) 63312277 or consult our online customer service via https://www.itiger.com/sg Tiger Brokers reserves the right, at its sole discretion, to determine the eligibility of participants for the Campaign or receipt of rewards. The decisions of Tiger Brokers on all Campaign-related matters are final and binding on participants. Tiger Brokers is under no obligation to disclose any Campaign-related matters or results to the participants. Please refer to https://www.itiger.com/sg/commissions/fees for details of fee charges. Disclaimer Notwithstanding anything herein, Tiger Brokers reserves the right, at its sole discretion, to determine the eligibility of participants for the Campaign / Promotion or receipt of rewards. The decisions of Tiger Brokers on all Campaign / Promotion-related matters are final and binding on participants. Tiger Brokers is under no obligation to disclose any Campaign / Promotion-related matters or results to the participants. Tiger Brokers shall not be liable in any way to any participant or any other person for any injury, loss, damage, or expense incurred by any participant or any other person in connection with the Campaign / Promotion. This includes, but is not limited to, losses (including lost opportunities) resulting from late or non-notification, computation errors, technical issues, hardware or software malfunctions, incorrect transactions, lost or unavailable network connections, or misdirected notices. By participating in this Campaign/Promotion, participants agree to release and hold Tiger Brokers harmless from any liability for any injuries, losses, or damages of any kind to any person or property arising from: a) the awarding, acceptance, receipt, possession, use, or misuse of any rewards or parts thereof awarded pursuant to the Campaign; and b) participation in the Campaign or promotion-related activities. Tiger Brokers may, at any time at its sole discretion and without prior notice, vary, modify, delete, or add to these Terms and Conditions (including the Campaign Period, the conduct of the Campaign, and the Campaign Mechanics) and may also suspend or terminate the Campaign or substitute the rewards at any time without any notice or liability to any person. In case of any inconsistency between these Terms and Conditions and any marketing or promotional materials related to the Campaign / Promotion, these Terms and Conditions shall prevail. These Terms and Conditions should be read alongside the Tiger Brokers Customer Agreement, which applies to all participants. These Terms and Conditions are governed by and construed in accordance with Singapore law, and the Singapore courts have exclusive jurisdiction. Any person who is not a party to any agreement governed by these terms and conditions shall have no right under the Contracts (Rights of Third Parties) Act 2001 to enforce any of these terms and conditions and notwithstanding any terms herein, the consent of any third party is not required for any variation (including any release or compromise of any liability) or termination of these Terms and Conditions. The information provided herein is for reference only and does not constitute, and should not be considered as: a) an offer, recommendation, or solicitation to purchase or sell any financial products or services; or b) a proposal to make any financial decisions; or c) any investment advice. Investing in financial products always involves inherent risks of loss. Tiger Brokers accepts no liability for any losses related to investors' investment activities. Past performance does not guarantee future results. This advertisement has not been reviewed by the Monetary Authority of Singapore. Disclaimer - UTI International (Singapore) Private Limited This advertisement has not been reviewed by the Monetary Authority of Singapore. The information herein is for informational purposes only and does not constitute a recommendation, offer or solicitation to buy or sell Shares in the Fund. It does not consider the specific investment objectives, financial situation or particular needs of any person. You should read the Prospectus and Product Highlights Sheet of the UTI India Nifty 50 Index ETF VCC, available at www.utifunds.com or from the Manager's business address at 3 Church Street, #22-01 Samsung Hub, Singapore 049483, before deciding whether to invest. You may wish to seek advice from a financial adviser before investing. If you choose not to, you should consider whether the Fund is suitable for you. Investments in the Fund are subject to investment risks, including the possible loss of the principal amount invested. The value of Shares and any income from them may fall or rise. Past performance, and any prediction, projection or forecast, is not necessarily indicative of future performance. The Fund is a feeder fund concentrated in a single country (India) and may be more volatile than funds with more diversified portfolios. Returns of the Underlying Fund and the Index are shown in INR; returns to investors in USD or SGD will be affected by currency movements. The Shares are listed on the SGX-ST. Listing does not guarantee a liquid market for the Shares. The trading price of Shares on the SGX-ST may differ from their Net Asset Value per Share, and Shares may be suspended or delisted. The ETF differs from a typical unit trust: Shares may only be created or redeemed directly by Participating Dealers in Creation or Redemption Units of 50,000 Shares. Investors who hold fewer Shares can only realise their value by selling on the SGX-ST. Tax treatment depends on individual circumstances and may change. The availability of treaty benefits described in this material is not assured. Investors should seek independent tax advice. The information contained herein may not be copied, reproduced or redistributed without the express consent of UTI International (Singapore) Private Limited. While reasonable care has been taken to ensure its accuracy, no warranty or representation is given, and no liability is accepted for any loss arising from reliance on this material. Information may change without notice. UTI International (Singapore) Private Limited, Company Registration No. 200617079Z. UTI India Nifty 50 Index ETF VCC, Company Registration No. T26VC0077H. Index Disclaimer - NSE Indices Limited Index disclaimer: The Nifty indices referenced in this article are owned and maintained by NSE Indices Limited. 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