Groww MF launches nifty non-cyclical consumer index fund

Groww Mutual Fund has launched a nifty non-cyclical consumer index fund. The open-ended scheme, managed by Abhishek Jain, aims to generate long-term capital growth by investing in securities of nifty non-cyclical consumer index (TRI) in the same proportion/weightage.

Groww Mutual Fund has launched a nifty non-cyclical consumer index fund. The open-ended scheme, managed by Abhishek Jain, aims to generate long-term capital growth by investing in securities of nifty non-cyclical consumer index (TRI) in the same proportion/weightage.

The NFO available for subscription will close on May 16, 2024.

The minimum investment amount is ₹500, with subsequent increments in multiples of ₹1. For SIP, the minimum amount is ₹1,200.

The scheme will invest 95-100 per cent in equities and equity-related securities of companies engaged in or expected to benefit from consumption and consumption-related activities and 0-5 per cent in debt and money market instruments /and units of debt schemes/units of debt ETFs.

According to the press statement, an exit load of 1 per cent is payable if units are redeemed/switched out within thirty days from the date of allotment. No exit load is payable on such action after 30 days.

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