Groww Mutual Fund files offer document for Nifty India Defence ETF
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Groww Mutual Fund has filed offer document with SEBI to launch an open-ended scheme named ‘Groww Nifty India Defence ETF’. Offer for Sale of Units at 1/100th value of the Nifty India Defence closing Index as on the date of allotment for applications received during NFO. Exit load will be Nil. The Scheme does not offer any Plans/Options for investment. The minimum target subscription amount for the Scheme to be raised is Rs 5 crore.
The performance of the scheme will be benchmarked by Nifty India Defence Index-Total Return Index. The minimum application amount is Rs 500 and in multiples of Re. 1 thereafter.
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.
