Birla Sun Life AMC plans bank ETF, to focus on existing funds

Birla Sun Life AMC Ltd plans to come up with a bank exchange traded fund (ETF) though its focus would be primarily on its existing funds, a top official said here.

“We have filed for approval of a banking ETF with Sebi (Securities & Exchange Board of India). Bank ETFs are doing well and if the approval comes through, we would be launching this product. But, growth of existing funds will be crucial for us”, said A Balasubramanian, chief executive officer, Birla Sun Life AMC Ltd.

Birla Sun Life manages assets under management (AUMs) of Rs 2.05 lakh crore (as on June