India-listed global ETFs are witnessing an unusual surge in prices, with some trading at premiums of as much as 65% over their indicative net asset value (iNAV). The sharp divergence has left retail investors seeking overseas exposure wondering what is driving the move, especially since there has been major movement in the underlying assets.
The first major divergence was seen on September 8, after US markets were closed on September 7 for the Labour Day holiday. The trend appears to have continued.