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Groww Mutual Fund on Thursday (January 22) announced the launch of the Groww Nifty PSE ETF, an open-ended exchange-traded fund (ETF) designed to track the Nifty PSE Index – TRI.
The new fund offer (NFO) opened on January 22 and will remain open until February 5, the fund house said. The scheme is expected to reopen on or before February 19.
The ETF will invest in equity and equity-related instruments of companies that are part of the Nifty PSE Index, aiming to deliver returns that closely track the index’s total return, subject to tracking error. It may also invest a small portion in debt and money market instruments to meet liquidity requirements, in line with regulations.
According to Groww Mutual Fund, the Nifty PSE Index tracks listed public sector enterprises where the central or state governments hold a majority stake. The index includes up to 20 companies selected from the Nifty 500 universe based on free-float market capitalisation and is rebalanced semi-annually.
The ETF will be listed on recognised stock exchanges, allowing investors to buy and sell units during market hours similar to equity shares. Market makers have been appointed to support secondary market liquidity.
The scheme has a minimum application amount of ₹500, with no exit load. The fund will be managed by Nikhil Satam, Aakash Chauhan and Shashi Kumar, the AMC said.
The new fund offer (NFO) opened on January 22 and will remain open until February 5, the fund house said. The scheme is expected to reopen on or before February 19.
The ETF will invest in equity and equity-related instruments of companies that are part of the Nifty PSE Index, aiming to deliver returns that closely track the index’s total return, subject to tracking error. It may also invest a small portion in debt and money market instruments to meet liquidity requirements, in line with regulations.
According to Groww Mutual Fund, the Nifty PSE Index tracks listed public sector enterprises where the central or state governments hold a majority stake. The index includes up to 20 companies selected from the Nifty 500 universe based on free-float market capitalisation and is rebalanced semi-annually.
The ETF will be listed on recognised stock exchanges, allowing investors to buy and sell units during market hours similar to equity shares. Market makers have been appointed to support secondary market liquidity.
The scheme has a minimum application amount of ₹500, with no exit load. The fund will be managed by Nikhil Satam, Aakash Chauhan and Shashi Kumar, the AMC said.
