Aditya Birla Sun Life AMC has announced the launch of an Exchange Traded Fund (ETF) tracking Nifty Financial Services TRI to capture growth opportunities across the financial services spectrum.
The name of the ETF is Aditya Birla Sun Life Nifty Financial Services ETF. The New Fund Offer (NFO) was opened on July 14, 2022 and will close on July 27, 2022.
As per the press release, Nifty Financial Services Index is a well-diversified portfolio that goes beyond traditional banking and includes – Insurance, Wealth Management, Stock Broking, Payment Platforms etc. The press release further states that there is a growing need for financial services during every stage of life whether it is in the early income stage or the retirement stage. “There has been a significant valuation of the financial services sector, including banks, in the last 2 years. Given the strategic importance of the sector in the Indian markets and the expected return in terms of valuation, this ETF represents a strong opportunity for growth. We think investors who are looking for high growth assets can consider this fund, which can be a great way to ride out cyclical volatility,” according to the fund house.
Commenting on the launch, A Balasubramaniam, MD & CEO, Aditya Birla Sun Life AMC Ltd. said, “Given the recent volatility, many investors are now resorting to passive products which give them an option to take underlying index exposure across various sectors. This ETF presents a unique investment opportunity in light of the importance of the BFSI (Banking, Financial Services and Insurance) sector.”
catch all Mutual Fund News And updates on Live Mint. download mint news app To get daily market updates & Live business News,