Groww MF introduces Nifty India Defence ETF
Groww Mutual Fund (MF) has launched Groww Nifty India Defence ETF, an open-ended scheme replicating/tracking Nifty India Defence Index Total Return Index. The NFO opens for subscription on September 23, 2024 and closes on October 04, 2024. The Entry Load is not applicable and Exit Load will be nil for the scheme. The minimum subscription amount is Rs 500 and in multiples of Re. 1/-thereafter.
The performance of the scheme will be benchmarked with Nifty India Defence Index TRI and its fund manager is Abhishek Jain.
The investment objective of the Scheme is to generate long-term capital growth by investing in securities of the Nifty India Defence in the same proportion/weightage with an aim to provide returns before expenses that track the total return of Nifty India Defence Index, subject to tracking errors.
