Groww gets Sebi nod for India’s first Nifty Non-Cyclical Consumer Index Fund
It will be an open‐ended scheme tracking the Nifty Non-Cyclical Consumer Index–TRI. The scheme will be benchmarked against the Nifty Non-Cyclical Consumer Index (Total Return Index).
- Apr 24, 2024,
- Updated Apr 24, 2024 1:30 PM IST
Financial services firm Groww has got Sebi approval to launch Nifty Non-Cyclical Consumer Index Fund through new fund offering (NFO).
This will be India’s first non-cyclical index fund and will be launched by Groww Mutual Fund, Groww's AMC business.
It will be an open‐ended scheme tracking the Nifty Non-Cyclical Consumer Index–TRI.
The scheme will be benchmarked against the Nifty Non-Cyclical Consumer Index (Total Return Index).
The investment goal of the Nifty Non-Cyclical Consumer Index Fund is to generate long-term capital growth by investing in securities of the Nifty Non-Cyclical Consumer Index (TRI) in the same proportion/weightage to offer returns before expenses that track the total return of the Nifty Non-Cyclical Consumer Index, subject to tracking errors.
The NFO is expected to go live in the first week of May.
Financial services firm Groww has got Sebi approval to launch Nifty Non-Cyclical Consumer Index Fund through new fund offering (NFO).
This will be India’s first non-cyclical index fund and will be launched by Groww Mutual Fund, Groww's AMC business.
It will be an open‐ended scheme tracking the Nifty Non-Cyclical Consumer Index–TRI.
The scheme will be benchmarked against the Nifty Non-Cyclical Consumer Index (Total Return Index).
The investment goal of the Nifty Non-Cyclical Consumer Index Fund is to generate long-term capital growth by investing in securities of the Nifty Non-Cyclical Consumer Index (TRI) in the same proportion/weightage to offer returns before expenses that track the total return of the Nifty Non-Cyclical Consumer Index, subject to tracking errors.
The NFO is expected to go live in the first week of May.