The Aditya Birla Sun Life Nifty Bank ETF has registered a growth of over 25 times between last April and February 2023 and surpassed ₹2,000 crore in assets under management.
Launched in October 2019, the Birla Nifty Bank ETF tracks the Nifty Bank Index and it suits investors looking for long-term capital growth.
Nifty Bank Index comprises mostly liquid and large-capitalised Indian banking stocks. It provides investors and market intermediaries with a benchmark that captures the capital market performance of Indian banks.
A Balasubramanian, Managing Director and Chief Executive Officer, Aditya Birla Sun Life AMC said the strong performance of the banking sector has played a significant role in the success of the fund and this trend will continue in the future as a firm robust banking system is a must to support India’s growth.
The asset under management for Aditya Birla Sun Life AMC in the ETF space has grown over 3 times to over ₹4,000 crore as of February-end since the start of the current financial year.
The other ETFs offered by the company have also witnessed substantial growth in AUM demonstrating the company’s commitment to providing investors with a diverse range of investment options.
The fund house’s Nifty 50 and Gold ETFs assets have gone up 72 per cent and 50 per cent to ₹1,095 crore and ₹534 crore while that of silver ETF was up 76 per cent to ₹169 crore so far in this fiscal.