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Sebi Approves New Thematic Index Funds From Axis And ICICI Prudential
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Sebi approved defense- and digital-focused index funds from Axis and ICICI Prudential AMCs, expanding India’s thematic passive-investment options amid growing retail appetite for specialized exposure.
The Securities and Exchange Board of India cleared two thematic index fund launches proposed by Axis Mutual Fund and ICICI Prudential AMC. The new schemes will track defense and digital-technology indices, reflecting investor appetite for specialized exposure. Asset managers plan staggered rollouts following regulatory approval and benchmark alignment with NSE Indices. Analysts believe the products expand passive-investment diversity and align with India’s manufacturing and digitalization themes. Market participants expect increasing competition in thematic funds as issuers target differentiated strategies to attract younger investor segments.