Groww Nifty EV & New Age Automotive ETF
Groww Nifty EV & New Age Automotive ETF is an open-ended scheme replicating/tracking Nifty EV and New Age Automotive Index – Total Return Index. The new fund offer or NFO of the scheme is open for subscription and will close on August 2. The investment objective of the scheme is to generate long term capital growth by investing in securities of the Nifty EV & New Age Automotive Index in the same proportion / weightage with an aim to provide returns before expenses that trackthe total return of Nifty EV & New Age Automotive Index, subject to tracking errors.
The scheme will invest 95-100% in equities and equity – related securities of companies engaged in or expected to benefit from Electric Vehicles and New Age Automotive Themes, and 0-5% in money market instruments/debt securities, instruments and/or units of debt/liquid schemes of domestic mutual funds. The scheme will be benchmarked against Nifty EV and New Age Automotive Index – Total Return Index.
Invesco India Manufacturing Fund
Invesco India Manufacturing Fund is an open-ended equity scheme following the manufacturing theme. The new fund offer or NFO of the scheme will open for subscription on July 25 and will close on August 8. The investment objective of the scheme is to generate capital appreciation from a diversified portfolio of equity and equity related instruments of companies following the manufacturing theme.
The scheme will allocate 80-100% in equity and equity related instruments of companies following the manufacturing theme, 0-20% in other equity and equity related instruments, 0-20% in debt and money market instruments, and 0-10% in units issued by REITs and InvITs. The scheme will be benchmarked against Nifty India Manufacturing TRI. The scheme will be managed by Amit Ganatra and Dhimant Kothari.
Kotak NIFTY Midcap 50 Index Fund
Kotak NIFTY Midcap 50 Index Fund is an open-ended scheme replicating/tracking the NIFTY Midcap 50 Index. The new fund offer or NFO of the scheme will open for subscription on July 25 and will close on August 8. The investment objective of the scheme is to provide returns that, before expenses, correspond to the total returns of the securities as represented by the underlying index, subject to tracking errors.The scheme will allocate 95-100% in equity and equity related securities covered by NIFTY Midcap 50 Index, and 0-5% in debt/money market instruments. The scheme will be benchmarked against Nifty Midcap 50 Index (Total Return Index (TRI)). To achieve the investment objective, the scheme will follow a passive investment strategy with investments in stocks in the same proportion as in NIFTY Midcap 50 Index. The investment strategy would revolve around reducing the tracking error through rebalancing of the portfolio, taking into account the change in weights of stocks in the index as well as the incremental collections/redemptions from the scheme.
