Asset base of passive funds tracking Nifty indices reaches Rs 7 lakh cr mark in May

Passive funds have witnessed a consistent rise in popularity, with total assets under management (AUM) of all exchange-traded funds and index funds that track the Nifty 50 indices crossing the Rs 7 lakh crore mark in May-end. As of May 31, 2023, there were 251 passive funds tracking 101 unique Nifty indices. Nifty indices-linked passive funds account for around 72% of total equity and debt passive funds AUM and 75% of the total number of passive funds in India. The AUM of passive funds surged to Rs 7.17 lakh crore as of May 31, 2023.