Nippon India MF commands ₹1,118 crore Akshaya Tritiya ETF trades, grabs 63% share as gold, silver volumes surge

Nippon India Mutual Fund (NIMF) reinforced its leadership in bullion-backed exchange traded funds (ETFs) during Akshaya Tritiya, clocking ₹1,118 crore in combined trading volumes across its gold and silver ETFs and capturing a dominant 63% share of total activity, according to NSE and Bloomberg data.

The strong performance comes amid a broader surge in ETF participation during the auspicious buying season, reflecting a structural shift from physical bullion to financialised investment avenues. Industry data indicates that total gold and silver ETF trading volumes saw multi-fold growth compared to previous years, with NIMF accounting for a disproportionate share of the spike.

Gold ETFs: Liquidity Edge Drives Scale

In gold ETFs, Nippon’s flagship Gold BeES recorded traded value of ₹504 crore on Akshaya Tritiya 2026, nearly three times higher than ₹172 crore in the previous year, broadly in line with the industry’s 3.2x growth to ₹1,052 crore. The fund house accounted for about 48% of total gold ETF traded value.

Crucially, its liquidity advantage stood out, with an impact cost of just 2 basis points versus an industry average of 17 bps (excluding Nippon). Market participants note that lower impact costs significantly reduce transaction inefficiencies, especially for large-ticket investors.

On a full-year basis, Nippon India MF held a 31.6% market share by gold ETF assets under management (AUM), with its AUM rising 174% year-on-year to ₹54,128 crore as of March 2026. Net inflows stood at ₹21,161 crore, translating into nearly 30% share of industry net sales.

Silver ETFs See Explosive Growth

Silver ETFs emerged as a high-growth segment, with industry traded value jumping 3.6x year-on-year to ₹1,125 crore during the festival. Nippon India’s Silver ETF contributed ₹614 crore—up 2.6x—capturing a 55% market share.

The segment also witnessed sharp expansion in AUM, with Nippon’s silver ETF assets surging 400% year-on-year to ₹30,676 crore. Net inflows stood at ₹11,676 crore, accounting for roughly one-third of industry flows.

Investor Base and Passive Shift

Nippon India MF’s dominance extends beyond trading volumes. The fund house reported an ETF investor base of 1.8 crore as of March 2026, representing about 45% of the industry total.

Overall, it captured around 52% of the industry’s average daily trading volume in gold and silver ETFs during FY26, underlining sustained market leadership beyond festive spikes.