The Aditya Birla Sun Life Nifty Bank ETF has witnessed a growth of over 25 times between last April and February 2023 and crossed ₹2,000 crore in assets under management, reported Business Line.
The strong performance of the banking sector has played a key role in the success of the fund and this trend will continue in the future, A Balasubramanian, MD & CEO of Aditya Birla Sun Life AMC, was quoted as saying.
The fund house’s assets under management (AUM) in the ETF space has grown over 3 times to more than ₹4,000 crore as of February end since the start of fiscal 2023, said the report.
The other exchange traded funds offered by the fund house have also seen rapid growth in AUM, demonstrating the company’s commitment to providing investors with a diverse range of investment options that cater to their needs, said the MD, as per the report.
The fund house’s Nifty 50 and Gold ETF assets have increased 72 per cent and 50 per cent to ₹1,095 crore and ₹534 crore, respectively, while silver ETF assets were up 76 per cent to ₹169 crore so far in this fiscal.