Aditya Birla Sun Life Mutual Fund has launched a new ETF tracking the Nifty Financial Services TRI. The Nifty Financial Services Index is a well-diversified portfolio that goes beyond conventional banking and includes - insurance, wealth management, stock broking, payment platforms, etc.
The Aditya Birla Sun Life Nifty Financial Services ETF is available for subscription till 27th July. According to the fund house, the financial services sector, including banks, has had significant valuation derating over the past 2 years. The press release said that given the expected comeback in terms of valuations in the sector, this ETF represents a strong opportunity for growth.
“Given the recent volatility, many investors are now resorting to passive products that will provide them with the option to take underlying index exposure in various segments of the market at low costs. This ETF presents a unique investment opportunity in light of the significance of the BFSI sector,” said A. Balasubramanian, MD & CEO, Aditya Birla Sun Life AMC.