Sberbank, Russia’s largest bank, along with JSC First Asset Management, has launched a new mutual fund called First–India. The fund allows Russian retail investors to invest in India’s stock market by tracking the performance of the Nifty50 Index — NSE’s benchmark index made up of the country’s top 50 companies by market capitalization. The launch was announced at the National Stock Exchange of India during Sberbank CEO and Chairman of the Executive Board Herman Gref’s business visit to India. The Nifty50 is one of the world’s most widely followed stock market indices. It includes 50 large, liquid companies across 15 major sectors of the Indian economy. More than 45 funds in India and 22 funds abroad track the Nifty50 Index. Launched in 1996, the index will mark its 30th anniversary on April 22, 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.”
Herman Gref, CEO and Chairman of the Executive Board, Sberbank: “We are opening another window of investment opportunities for our Russian clients, this time to South Asia. Our new product provides a convenient way to gain exposure to one of the world’s key economic markets—the Indian stock market. Until now, no straightforward options existed for Russian investors seeking personal investments in Indian assets. However, we have created a new and efficient financial bridge between the two countries.”
