| Sberbank and JSC First Asset Management have unveiled a new mutual fund that gives Russian retail investors exposure to India's equity market through the Nifty50 Index. The product, named First-India, will track the performance of India's flagship benchmark on the National Stock Exchange.
The fund was launched during Sberbank CEO Herman Gref's visit to India, at an event hosted at the National Stock Exchange of India. Sberbank said the offering opens a direct route for Russian investors to participate in the growth of India's largest companies.
The Nifty50 is one of the world’s most widely tracked equity indices. It features 50 large, liquid stocks across 15 sectors and serves as a key barometer of India’s equity market. More than 45 passive funds in India track the index, along with 22 passive funds overseas.
Launched in 1996, the Nifty50 will mark its 30th anniversary in April 2026.
Ashishkumar Chauhan, MD & CEO, NSE: "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 through a trusted benchmark. This initiative reflects strong confidence in India’s markets and deepens the India–Russia financial cooperation. NSE is committed to partnering with Sberbank to enhance market connectivity, uphold regulatory and investor-protection standards, and build liquidity and transparency for these products as
we create new opportunities for investors in both countries."
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