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Groww MF gets Sebi's nod to launch Nifty Non-Cyclical Consumer Index Fund
Written By PTI
Published: | Updated:
This would be the country's first non-cyclical index fund and the NFO is expected to go live in the first week of May, Groww said in a statement.
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It will be an open-ended scheme tracking the Nifty Non-Cyclical Consumer Index-TRI (Total Return Index). Image | Unsplash (Representational)
Groww Mutual Fund on Wednesday said it has received markets regulator Sebi's approval to launch Nifty Non-Cyclical Consumer Index Fund through a New Fund Offering (NFO).
This would be the country's first non-cyclical index fund and the NFO is expected to go live in the first week of May, the company said in a statement.
It will be an open-ended scheme tracking the Nifty Non-Cyclical Consumer Index-TRI (Total Return Index).
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The aim of the fund is to generate long-term capital growth by investing in securities of the Nifty Non-Cyclical Consumer Index (TRI) in the same proportion to offer returns.
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