Groww MF introduces Nifty 1D Rate Liquid ETF
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Groww Mutual Fund (MF) has launched Groww Nifty 1D Rate Liquid ETF, an open ended Exchange Traded Fund (ETF) replicating / tracking Nifty 1D Rate Index. A relatively low interest rate risk and relatively low credit risk scheme. The NFO opens for subscription on September 16, 2024 and closes on September 20, 2024. The Entry Load is not applicable and Exit Load will be nil for the scheme. The minimum subscription amount is Rs 500. Units will be allotted in the whole figures and the balance amount will be refunded, even if it is falls below the minimum amount.
The performance of the scheme will be benchmarked with Nifty 1D Rate Index and its fund manager is Kaustubh Sule.
The investment objective of the Scheme is to provide current income, commensurate with relatively low risk while providing a high level of liquidity, primarily through a portfolio of Tri-Party REPO), Repo in Government Securities, Reverse Repos and similar other overnight instruments.
