Market Performance - India's NIFTY 50 index has experienced a decline of approximately 0.47% month-to-date but has shown signs of recovery with a 0.18% gain over the past five sessions and a 0.57% increase on Friday alone [1] - The NIFTY 50 has achieved a year-to-date gain of 10.19% and a 6.43% rise over the past six months, indicating a positive economic outlook [2] Investment Opportunities - Global fund houses are increasingly attracted to India's $3.3 trillion potential, with multinational companies listing their India units, enhancing the primary market and creating more investment opportunities [3] - The shift of household savings into financial assets is accelerating market inflows, benefiting asset managers and creating opportunities for fund houses as more retail investors enter the market [4] Mutual Fund Industry Growth - Bain & Company projects that retail investor-driven assets in India's mutual fund industry will grow from 45 trillion rupees in fiscal year 2025 to 300 trillion rupees ($3.3 trillion) by 2035, highlighting significant growth potential [5] Big Tech Investments - Major tech companies are investing billions in India, with Microsoft and Amazon pledging over $50 billion for cloud and AI infrastructure [6] - Microsoft plans to invest $17.5 billion over the next four years, while Amazon has announced an additional $35 billion investment, building on a previous $40 billion investment [7] Data Center Market Potential - India aims to leverage its IT expertise to develop enterprise-level AI applications, presenting substantial opportunities for Big Tech, with favorable conditions for large-scale data center development [8] - The convergence of global cloud providers, AI innovators, and domestic digitalization positions India as one of the world's most promising data center markets [9] Future Equity Outlook - Jefferies forecasts that India's equities will outperform broader emerging-market economies in 2026, with the NIFTY 50 expected to reach 28,300, representing an upside of about 8.65% from current levels [10] Investment Vehicles - Several India ETFs are highlighted for investors looking to capitalize on the country's optimistic outlook, including iShares MSCI India ETF (INDA), WisdomTree India Earnings Fund (EPI), and others [11][13] - INDA has the largest asset base of $9.44 billion and is the most liquid option, making it suitable for active trading strategies [14]

India’s ICICI Prudential AMC will start taking orders for its $1.2 billion IPO on Friday, paving the way for a listing that may make it the country’s second-most valuable mutual fund https://t.co/p2Dqcnf9zb ...

Industry Impact - BlackRock's entrance is considered a significant event [1] - Larry Fink is recognized as an impressive entrepreneur who disrupted the mutual fund industry [1] - Fink's decision to embrace technology is seen as potentially disruptive to the ETF industry [2] Leadership & Strategy - Fink's continued drive and vision are highlighted, suggesting he could have rested on his wealth but instead pursued further disruption [2] - The decision to "lean into" technology is viewed as a pivotal strategic move [2]

1. Report Industry Investment Rating No relevant content provided 2. Core Views of the Report - Last week, 30 new ETF products were issued in the US, with an increase in the number of issuances and a relatively large number of leveraged inverse products [6]. - Stock ETF inflows remained above $10 billion last week, while cryptocurrency ETFs had a slight outflow. Gold, Bitcoin ETFs, and long - term bond ETFs all had outflows [3][8]. - In the past three months, US raw material - related ETFs have performed well, but there is significant differentiation among sub - industries. Gold and silver mining ETFs have been outstanding, with some products rising more than 70% this year, while building materials - related products have performed weakly [3][14]. - In June 2025, the total amount of non - money mutual funds in the US was $22.69 trillion, an increase of $0.78 trillion from May. From August 6th to 13th, domestic stock funds in the US had a net outflow of about $15.4 billion, and the inflow of bond products continued to narrow to around $1 billion [3][16]. 3. Summary by Directory 3.1 US ETF Innovation Products: Intensive Issuance of Leveraged Inverse Products - Defiance, Tradr, and Leverage Shares issued 9 single - stock leveraged inverse ETFs last week. Defiance's Leveraged Long + Income series offers 150 - 200% leveraged returns on stocks and thickens returns through option strategies [6]. - Northern Trust issued 11 products last week, covering 3 series, including two ladder - strategy series investing in municipal bonds and inflation - protected bonds, and another series mainly investing in short - term, medium - term, and comprehensive tax - exempt municipal bonds [7]. - JPMorgan issued a stock income product last week, which will flexibly use coupons, option premiums, etc. to thicken returns. Amplify's Covered Call product issued last week is linked to ProShares' silver mining ETF and thickens returns by selling monthly call options [7]. - Tidal issued 2 active ETFs last week, managed by SMART. They adopt trend and growth strategies respectively. The manager first selects 800 - 850 stocks based on market value and liquidity, then further screens them according to momentum and growth indicators, and finally actively selects 25 - 30 stocks expected to outperform the S&P 500 [1][7]. - Janus Henderson issued a global AI product last week, actively selecting stocks related to or benefiting from the AI industry. VanEck issued two industry products, targeting technology and consumer discretionary companies [7]. 3.2 US ETF Dynamics 3.2.1 US ETF Funds: Stable Inflows into Stock ETFs - Stock ETF inflows remained above $10 billion last week, while cryptocurrency ETFs had a slight outflow. Vanguard's S&P 500 ETF had the largest inflow, the Russell 2000 ETF had an obvious return flow, and DSPY also entered the top ten in terms of inflows. ARKK started to have outflows again, and gold, Bitcoin ETFs, and long - term bond ETFs all had outflows [3][8]. - ARKK has been experiencing continuous outflows since August 14th, and SPY has had relatively large outflows in the past two weeks [13]. 3.2.2 US ETF Performance: Gold and Silver Mining Outperforms Other Material Products - In the past three months, US raw material - related ETFs have performed well, but there is significant differentiation among sub - industries. Gold and silver mining ETFs have been outstanding, with some products rising more than 70% this year, while building materials - related products have performed weakly [14]. 3.3 Recent Capital Flows of US Ordinary Public Mutual Funds - In June 2025, the total amount of non - money mutual funds in the US was $22.69 trillion, an increase of $0.78 trillion from May. The S&P 500 rose 6.15% in June, and the scale of domestic stock products increased by 4.26%, slightly lower than the stock increase [16]. - From August 6th to 13th, domestic stock funds in the US had a net outflow of about $15.4 billion, basically the same as the previous week, and the inflow of bond products continued to narrow to around $1 billion [3][16].