AUM of passive funds tracking Nifty indices hit new milestone of ₹5 lakh crore; key highlights here
The AUM of passive funds in India, including ETFs and index funds tracking Nifty indices, has surpassed ₹5tn ($67bn), according to the National Stock Exchange of India. These passive funds also started the year FY24 on a strong note with AUM increasing to ₹717,042 crore by May 2023 end.
The National Stock Exchange of India (NSE) on Monday said that the asset under management (AUM) of passive funds like ETFs and index funds that track Nifty indices have touched a new milestone by crossing the ₹5 lakh crore mark. NSE Indices CEO Mukesh Agarwal believes that passive funds are well-suited for retail and institutional investors.