Aditya Birla Solar Life AMC Ltd. introduced on Tuesday that its Nifty Financial institution ETF (change traded fund) has registered a development of over 25 instances in its asset base in FY2023, crossing the Rs 2,000-crore mark.

“The robust efficiency of the banking sector has performed a major function within the success of the fund, and we consider that the development will proceed sooner or later. I firmly consider a strong banking system is a should to assist India’s development,” A. Balasubramanian, managing director and chief government officer of Aditya Birla Solar Life AMC, stated in an announcement.

The group additional stated that the asset underneath administration (AUM) for Aditya Birla Solar Life AMC within the ETF area has grown greater than 3 times to over Rs 4,000 crore as of February 28 for the reason that starting of FY23.

“The Aditya Birla Solar Life Nifty Financial institution ETF registered a development of over 25 instances in its AUM from April 1, 2022 to February 28, 2023 and surpassed the milestone of Rs 2,000 crore,” the fund home stated.

Whereas the Aditya Birla Solar Life Nifty Financial institution grew, the corporate’s different ETFs additionally witnessed substantial development in property underneath administration.

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

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

The Aditya Birla Solar Life Nifty Financial institution ETF, launched in October 2019, is an open-ended exchange-traded fund monitoring the Nifty Financial institution index. 

The Nifty Financial institution index contains probably the most liquid and large-capitalised Indian banking shares.

It gives buyers and market intermediaries with a benchmark that captures the capital market efficiency of Indian banks.