The National Stock Exchange of India (NSE) and Sberbank, Russia’s largest bank, have announced a new investment product that gives Russian retail investors direct access to the Indian stock market. The new mutual fund, called First–India, is benchmarked to the Nifty50 Index, one of India’s most trusted and widely tracked equity benchmarks.
What Is the First–India Fund?
The First–India fund is a new mutual fund created by Sberbank and JSC First Asset Management. It allows investors in Russia to invest in a portfolio linked to India’s top 50 companies by market capitalization. These companies represent 15 major sectors of the Indian economy, making the Nifty50 a diversified and stable benchmark.
This launch marks the first time Russian retail investors have a simple and transparent way to invest in Indian equity markets through a regulated financial product.
Why This Matters for Indian and Russian Investors
The initiative strengthens financial cooperation between India and Russia. It increases capital flow, improves market connectivity, and provides new investment opportunities for both countries. The NSE stated that the collaboration will build liquidity, enhance transparency, and support investor-protection standards.
NSE MD & CEO Ashish Kumar Chauhan said:
“We are pleased to support Sberbank in launching Nifty50-linked investment solutions that strengthen capital flows and open India’s equity growth to Russian investors. This initiative reflects strong confidence in India’s markets and deepens India–Russia financial cooperation.”
Sberbank CEO Herman Gref said:
“We are opening a new window of investment opportunities for Russian clients in South Asia. Until now, no straightforward options existed for Russian investors seeking personal investments in Indian assets. We have now created an efficient bridge between the two countries.”
About the Nifty50 Index
- Tracks India’s top 50 companies by market cap
- Represents 15 major sectors of the Indian economy
- Includes highly liquid, large-cap stocks
- Followed globally by investors and funds
- Launched in 1996 and completes 30 years in April 2026
More than 45 passive funds in India and 22 international funds track the Nifty50 Index, proving its global relevance.
What This Means for Markets
The launch of a Nifty50-based product in Russia may increase foreign interest in Indian equities. It can also support long-term capital inflows into India’s financial markets, especially as global investors look for strong growth opportunities.
Key Takeaways
- Sberbank launches the First–India mutual fund linked to the Nifty50 Index.
- Russian retail investors get direct access to Indian equities.
- The initiative strengthens India–Russia financial cooperation.
- Nifty50 remains a trusted benchmark with global participation.
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