Sberbank, Russia’s largest bank and JSC First Asset Management have introduced a new mutual fund, First–India, offering investments linked to the performance of the Nifty50 Index (NSEI), a flagship index on the National Stock Exchange of India Ltd (NSE), comprised of stocks from India’s top 50 companies by market capitalization providing Russian retail investors direct exposure to India’s stock market. The launch was announced at the event at the National Stock Exchange of India by Sberbank CEO and Chairman of the Executive Board, Herman Gref’s during his business visit to India.
The Nifty50 is one of the most widely followed equity indices among market participants globally. It comprises 50 large-cap, highly liquid stocks listed on the NSE, representing 15 diverse sectors of the Indian economy. In India, there are over 45 passive funds that track the Nifty50, while an additional 22 passive funds outside India track the Nifty50 Index. The Nifty50 index was launched in 1996 and will complete 30 years on April 22, 2026.
