MUTUAL FUNDS
Groww Nifty Mutual Fund files offer document for India Defence ETF FOF
Jul-23-2024

Groww Nifty Mutual Fund has filed offer document with SEBI to launch an open-ended fund of fund named ‘Groww Nifty India Defence ETF FOF’. The New Fund Offer price is Rs 10. Entry load will be nil and Exit load f redeemed within 30 days from the date of allotment will be 1%; and If redeemed after 30 days from the date of allotment exit load will be nil. The Scheme offers growth and dividend options for investment and seeks to collect a Minimum Target Amount of Rs 10 crore.

The performance of the scheme will be benchmarked by Nifty India Defence Index TRI. The minimum application amount is Rs 500 and in multiples of Re1 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.


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