Aditya Birla Sun Life Mutual Fund has filed draft documents for the Aditya Birla Sun Life BSE Top 10 Banks ETF, an open-ended exchange traded fund that will track the BSE Top 10 Banks Total Return Index.
The scheme aims to deliver returns broadly in line with the index, before expenses, subject to tracking differences. Units are proposed to be listed on the NSE and BSE.
The scheme plans to allocate 95% to 100% of its assets to equity and equity-related securities included in the underlying index. Up to 5% of assets may be held in debt and money market instruments for liquidity purposes.
The fund will not invest in overseas securities, mutual fund units, REITs, InvITs, unrated debt instruments, or credit default swaps.
Units will be offered at a face value of ₹10 during the New Fund Offer (NFO) period. The creation unit size is set at 100,000 units, with large investors allowed to subscribe or redeem directly with the fund for transactions exceeding ₹25 crore.
Units will be traded on exchanges in lots of one unit, with no exit load. Market makers are expected to provide buy and sell quotes to support liquidity.
The ETF will follow a passive investment approach, with portfolio weights aligned to index constituents and rebalanced in line with index changes or corporate actions.
Tracking error will be monitored on an ongoing basis and is not expected to exceed 2% per annum under normal conditions. The BSE Top 10 Banks Total Return Index will be used as the performance benchmark.
The minimum application amount during the NFO is ₹500, with further investments allowed in ₹1 multiples.
Net asset value will be calculated daily and disclosed up to 4 decimal places, with indicative NAV updates during market hours. Redemption proceeds are to be dispatched within three working days of receipt.
Read More: Aditya Birla Sun Life Restarts Fresh Investments in Overseas Funds After 3-Month Pause!
The draft filing sets out a banking-sector ETF with a concentrated equity allocation, passive tracking structure, and exchange-based trading framework, subject to regulatory approvals and market conditions.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Mutual Funds' Investments are subject to market risks, read all the related documents carefully before investing.
Published on: Jan 27, 2026, 11:14 AM IST
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