BackGroww Mutual Fund Launches Groww NIFTY Total Market Index Fund: Five things to know
Groww Mutual Fund has launched the Groww Nifty Total Market Index Fund, India's first Total Market Index Fund. The fund will track the Nifty Total Market Index and provide potential returns that correspond to the total returns of the index
PremiumGroww Mutual Fund has announced the launch of Groww Nifty Total Market Index Fund, based on the NIFTY Total Market Index. Anupam Tiwari (Fund Manager) will be managing the fund. "India's economic story is multi-dimensional, with growth seen across diverse sectors. Groww NIFTY Total Market Index Fund seeks to offer investors an opportunity to benefit from India’s growth," said Harsh Jain, COO and co-founder, of Groww.
Groww Nifty Total Market Index Fund: Key things to know
1)The Groww NIFTY Total Market Index Fund will track the Nifty Total Market Index and aim to provide potential returns before expenses that correspond to the total returns of the Nifty Total Market Index, subject to tracking errors.
2)The fund will be open for subscription from October 3rd, 2023 to October 17th, 2023.
3)The fund re-opens for ongoing subscription and redemption within five business days from the date of allotment of units on or before.
4)This will be India’s first Total Market Index Fund.
5) The Nifty Total Market Index consists of ~750 stocks across large, mid, and small-cap segments. While large-cap stocks account for 72.03% of their weightage, about 27.97% are attributed to mid, small, and microcap stocks of their weightage in the index. This composition seeks to balance the steadiness of large-cap companies with the growth prospects of mid and small ones. The index represents around 96% of the NSE's total market capitalization, in comparison to the 49% covered by the NIFTY 50.
Groww Nifty Total Market Index Fund: Key attributes of the scheme
- Aims to offer broader exposure to the Indian stock market
- Access to a broad portfolio of stocks with a single investment
- Aimed at long-term capital appreciation
How can investors start investing in Groww Nifty Total Market Index Fund
Investors can start investing in the Groww NIFTY Total Market Index Fund from October 3rd to October 17th via any mutual fund investing platform or directly through Groww Mutual Fund.
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