The Nifty Financial Services ETF has been Launched by Aditya Birla Sun Life Mutual Fund

 


Original Content- Business Upside India 

An ETF that follows the Nifty Financial Services TRI has been introduced by Aditya Birla Sun Life Mutual Fund.

Including traditional banking and insurance, the Nifty Financial Services Index covers wealth management, stockbroking, payment systems, and other financial services. New fund offerings (NFOs) opened on July 14, 2022, and closed on July 27, 2022.

The fund company claims that over the previous two years, the financial services industry, which includes banks, has experienced a severe valuation derating. According to the press release, given the anticipated rebound in sector valuations, this ETF represents a significant chance for growth.

What are Nifty Financial Services?

The Nifty Financial Services Index, according to the press release, is a well-diversified portfolio that covers insurance, wealth management, stock broking, payment systems, etc., in addition to conventional banking. There is an increasing need for financial services in every period of life, including the early-income and retirement stages.

As of June 30, 2022, data from the National Stock Exchange (NSE) showed that the financial services index had earned a return of 10.94% CAGR during 5 years. However, this index had a 5.12% negative total return over a year.

The Nifty Financial Services Index had strong fundamentals as of June 30, 2022, with a price to earnings (P/E) ratio of 17.63, a price to book (P/B) ratio of 3.38, and a dividend yield ratio of 0.83.

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