Overview
- Sberbank and JSC First Asset Management debuted the First–India mutual fund to provide Russian retail investors exposure to the NSE’s Nifty50 index.
- The launch was announced at an NSE event in New Delhi, where CEO Ashishkumar Chauhan endorsed the plan and emphasized connectivity and investor protections.
- CEO Herman Gref said the fund creates a financial bridge to India’s market and unveiled plans to seek 10 RBI branch licences and open a large corporate office in the capital.
- Sberbank expects to invest about $100 million over three years, add a Hyderabad data center, and expand from B2B into retail services, subject to regulatory approvals.
- The bank will offer instruments for investing in Indian government securities and has a licence tied to gold exports to India, with Gref noting rupee balances of a few billion dollars parked in Indian banks.