Tata Mutual Fund launches Tata Nifty India Digital Exchange Traded Fund
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(An Open-Ended Exchange Traded Fund replicating / tracking Nifty India Digital Index)
NFO opens on 14th March 2022 and closes on 25th March 2022
Tata Mutual Fund launches Tata Nifty India Digital Exchange Traded Fund - an Open-Ended Exchange Traded Fund replicating / tracking Nifty India Digital Index.
Key Highlights
• Spend on the digital transformation has gathered pace over the last 2 years and is now cutting across businesses, economic activities and various consumption chains. This is not only to optimize cost but to also drive revenues.
• Traditional players are being challenged by the new age companies who are re-imagining businesses or the modes of delivery of various goods and services.
• These new age companies not only benefit from availability of risk capital but have also seen higher penetration and wider acceptance by the customers due to the pandemic.
• With NSE 500 as the universe for Nifty India Digital Index, basic industries are defined to cover companies which are focused on digital technology by the Index constructor NSE.
• The index selects top 30 companies based on market cap which align to the pre-defined set of basic industries.
Speaking on the launch, Meeta Shetty, Senior Analyst & Fund Manager, Tata Mutual Fund said, “Tata Nifty India Digital Exchange Traded Fund is a passive portfolio replicating a predefined Digital India Index
Current characteristics of Nifty India Digital Index based on its index construction methodology represents the digital change agent companies and digital enablers. Digital transformation is
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