Russia’s largest bank, Sberbank, has introduced a new mutual fund that provides Russian retail investors with access to India’s Nifty50 index, a benchmark tracking 50 of the country’s largest and most liquid companies. The initiative enables Russian investors to diversify into Indian equities and strengthens financial collaboration between the two nations.
About the First-India Fund
Sberbank, in partnership with JSC First Asset Management, has launched the First-India fund, a product designed specifically for Russian retail investors. The fund’s performance is directly tied to the Nifty50 index, offering investors exposure to one of Asia’s most dynamic equity markets.
The fund provides a structured and simplified route for Russian individuals to participate in Indian equities, a market that previously had no direct investment channels for this segment.
Launch Highlights
- The fund was officially launched during Sberbank CEO Herman Gref’s visit to India.
- The announcement took place at the National Stock Exchange (NSE), highlighting growing financial ties between India and Russia.
- NSE MD & CEO Ashishkumar Chauhan emphasized that this initiative reflects long-term confidence in Indian markets from international institutions.
Market Context
- The First-India fund joins over 22 passive international funds tracking Nifty50 and more than 45 India-based index funds following the same benchmark.
- By linking returns to Nifty50, the fund offers a convenient way for Russian investors to gain exposure to India’s top-listed companies without requiring direct stock market access.
Summary
Sberbank’s Nifty50-linked fund opens a new investment avenue for Russian retail investors, promoting cross-border financial collaboration and providing a gateway into India’s equity markets.
Disclaimer:
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