te Aditya Birla Sun Life Nifty Bank ETF grows over 25 times, crosses this mark in February | Zee Business

Aditya Birla Sun Life Nifty Bank ETF grows over 25 times, crosses this mark in February

The AUM for Aditya Birla Sun Life AMC in ETF space had grown to over Rs 4,000 crore as of February 28

Aditya Birla Sun Life Nifty Bank ETF grows over 25 times, crosses this mark in February
The Aditya Birla Sun Life Nifty Bank ETF, launched in October 2019, is an open-ended exchange-traded fund tracking the Nifty Bank index. Photo: Pixabay

Aditya Birla Sun Life AMC Ltd. announced on Tuesday that its Nifty Bank ETF (exchange traded fund) has registered a growth of over 25 times in its asset base in FY2023, crossing the Rs 2,000-crore mark.

"The strong performance of the banking sector has played a significant role in the success of the fund, and we believe that the trend will continue in the future. I firmly believe a robust banking system is a must to support India's growth," A. Balasubramanian, managing director and chief executive officer of Aditya Birla Sun Life AMC, said in a statement.

The group further said that the asset under management (AUM) for Aditya Birla Sun Life AMC in the ETF space has grown more than three times to over Rs 4,000 crore as of February 28 since the beginning of FY23.

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"The Aditya Birla Sun Life Nifty Bank ETF registered a growth of over 25 times in its AUM from April 1, 2022 to February 28, 2023 and surpassed the milestone of Rs 2,000 crore," the fund house said.

While the Aditya Birla Sun Life Nifty Bank grew, the company's other ETFs also witnessed substantial growth in assets under management.

The Aditya Birla Sun Life Nifty 50 ETF’s AUM grew 72% to Rs 1095 crore, and the Aditya Birla Sun Life Gold ETF’s AUM jumped 50% to Rs 534 crore.

The Aditya Birla Sun Life Silver ETF’s AUM was also up 76% to Rs 169 crore.

The Aditya Birla Sun Life Nifty Bank ETF, launched in October 2019, is an open-ended exchange-traded fund tracking the Nifty Bank index. 

The Nifty Bank index comprises the most 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.

Written By: ZeeBiz WebTeam
Edited By: ZeeBiz WebTeam
Updated: Tue, Mar 14, 2023
08:07 pm
ZeeBiz WebDesk

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