Latest News | Aditya Birla Sun Life Nifty Bank ETF Asset Under Management Crosses Rs 2,000 Crore in February

New Delhi, Mar 14 (PTI) Aditya Birla Sun Life AMC Ltd on Tuesday said its Nifty Bank ETF (exchange traded fund) registered a growth of over 25 times in its asset base in the current financial year and surpassed Rs 2,000 crore mark.

The Aditya Birla Sun Life Nifty Bank ETF, an open-ended exchange-traded fund tracking the Nifty Bank index, was launched in October 2019 for investors looking for long-term capital growth.

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"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 at Aditya Birla Sun Life AMC, said in a statement.

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 start of the current financial year.

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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.

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.

Apart from the Aditya Birla Sun Life Nifty Bank, other ETFs offered by the company have also witnessed substantial growth in assets under management.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)