Groww Mutual Fund files offer document for Nifty Capital Markets ETF
Groww Mutual Fund has filed offer document with SEBI to launch open ended scheme named ‘Groww Nifty Capital Markets ETF ‘. The New Fund Offer price for units would be at Rs 10 per unit during the NFO period. Entry load and Exit load will be nil. The Scheme does not offer any Plans/Options for investment and seeks to collect a Minimum Target Amount of Rs 5 crore.
The performance of the scheme will be benchmarked as against Nifty Capital Markets Index-TRI. The minimum application amount is Rs 500 and in multiples of Rs 1 thereafter.
The investment objective of the scheme is to generate long-term capital growth by investing in securities of the Nifty Capital Markets Index in the same proportion/weightage with an aim to provide returns before expenses that track the total return of Nifty Capital Markets Index.
