BackAditya Birla Sun Life Nifty Bank ETF AUM surpasses ₹2,000 Cr in Feb
Aditya Birla Sun Life AMC Limited, a subsidiary of Aditya Birla Capital Limited, an investment manager for Aditya Birla Sun Life Mutual Fund, announced on Tuesday that its Aditya Birla Sun Life Nifty Bank ETF saw an uptick in assets under management (AUM) of over 25 times between April 1, 2022, and February 28, 2023, surpassing the Rs. 2000 crore mark.
PremiumAditya Birla Sun Life AMC Limited, a subsidiary of Aditya Birla Capital Limited, an investment manager for Aditya Birla Sun Life Mutual Fund, announced on Tuesday that its Aditya Birla Sun Life Nifty Bank ETF saw an uptick in assets under management (AUM) of over 25 times between April 1, 2022, and February 28, 2023, surpassing the Rs. 2000 crore mark. For investors seeking long-term capital gain, the Aditya Birla Sun Life Nifty Bank ETF, an open-ended exchange-traded fund following the Nifty Bank Index, was introduced on October 23, 2019.
The most liquid and highly capitalised Indian banking stocks make up the Nifty Bank Index. It is a benchmark that reflects the capital market performance of Indian Banks to investors and market intermediaries.
Commenting on ETF’s milestone and growth, A. Balasubramanian, Managing Director and Chief Executive Officer, Aditya Birla Sun Life AMC Ltd., said, “We are thrilled to see a tremendous response from investors for Aditya Birla Sun Life Nifty Bank ETF. 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."
“The asset under management for Aditya Birla Sun Life AMC Ltd in the ETF space has grown over 3x to over ₹4000 crore as on end of 28th February 2023 since the start of the current financial year," said Aditya Birla Sun Life AMC in a statement dated 14 March, 2023.
In addition, other ETF’s offered by Aditya Birla Sun Life AMC also witnessed a record surge in AUM. Aditya Birla Sun Life Nifty 50 ETF’s AUM up 72% at ₹1095 crore, Aditya Birla Sun Life Gold ETF’s AUM up 50% at ₹534 crore and Aditya Birla Sun Life Silver ETF’s AUM up 76% at ₹169 crore.
“In addition to Aditya Birla Sun Life Nifty Bank ETF, 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 that cater to their needs," said Aditya Birla Sun Life AMC in an official statement.
One of the top asset managers in India, Aditya Birla Sun Life AMC Ltd services 8.01 million investor folios and has a pan-India presence in 290+ locations. For the quarter ended December 31, 2022, the company's total AUM exceed Rs. 2,930 billion.
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