Aditya Birla Sun Life Mutual Fund launches Aditya Birla Sun Life Healthcare ETF

Aditya Birla Sun Life Asset Management Company (AMC) Limited, a subsidiary of Aditya Birla Capital has announced the launch of Healthcare ETF. It is an open-ended ETF, which will track Nifty Healthcare TRI. The NFO is open from October 8, 2021, to October 20, 2021, and the minimum application amount for this fund is Rs 500 and in multiples of Rs 100 thereafter, during the NFO. 

The objective of the fund is to provide returns that closely correspond to the total returns as represented by the NIFTY Healthcare TRI, subject to tracking errors. This fund follows the passive investing model i.e. fund will try to mirror the returns of the benchmark index. Nifty Healthcare Index consists of a maximum of 20 tradable, exchange-listed companies and has a well-diversified sub-sector allocation. This includes companies from fields such as pharma, hospitals, medical devices and supplies, laboratories and diagnostics as well as medical insurance.  

This product is suitable for investors who are seeking long term capital growth and investments in a stock comprising the underlying index and endeavours to track the benchmark index. Being an ETF, it will be listed on the Indian stock exchange and its units can be bought and sold at real-time prices akin to trading of a share.