Groww's Nifty Non-Cyclical Consumer Index Fund Approved by SEBI
Groww Mutual Fund has received SEBI approval to launch India's first non-cyclical index fund, tracking the Nifty Non-Cyclical Consumer Index. This open-ended scheme aims for long-term capital growth by investing in securities of the index in the same proportion. The NFO is expected to go live in early May.
- Country:
- India
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).
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.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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- Groww Mutual Fund
- Sebi
- Nifty Non-Cyclical Consumer Index Fund