Groww Files Draft for Nifty EV & New Age Automotive ETF

Overview of Groww Nifty EV & New Age Automotive ETF

Groww Nifty EV & New Age Automotive ETF is an open-ended scheme that aims to replicate or track the Nifty EV & New Age Automotive Index – Total Return Index (TRI). This ETF is designed for investors seeking long-term capital appreciation by investing in equity and equity-related instruments that are part of the Nifty EV & New Age Automotive Index.

Suitability for Investors

This product is suitable for investors who are seeking:

• Long-Term Capital Appreciation
• Investment in Equity and Equity-Related Instruments** of the Nifty EV & New Age Automotive Index

Benchmark Index

The benchmark index for this ETF is the **Nifty EV and New Age Automotive Index – Total Return Index (TRI)**. The trustees have adopted this index to serve as the performance benchmark for the scheme.

Scheme Category

The scheme falls under the category of Other Schemes – Exchange Traded Fund (ETF)

Minimum Application Amount

During NFO (New Fund Offer): Rs. 500 and in multiples of Re. 1 thereafter. Units will be allotted in whole figures, and the balance amount will be refunded even if it falls below the minimum amount.

Minimum Additional Purchase Amount

During NFO Period: Rs. 500 per application and in multiples of Re. 1 thereafter. Units will be allotted in whole figures, and the balance amount will be refunded.

Asset Allocation

The scheme will allocate its assets as follows:

Investment Strategies

The Groww Nifty EV & New Age Automotive ETF will be managed passively with investments in stocks in the same proportion as in the Nifty EV & New Age Automotive Index. The key points of the investment strategy are:

• Invest in a Basket of Securities forming part of the Nifty EV and New Age Automotive Index in similar weight proportions.
• Minimize Tracking Error through regular rebalancing of the portfolio, considering changes in stock weights in the index as well as incremental collections/redemptions in the scheme.
• Liquidity Management: A part of the funds may be invested in debt and money market instruments to meet liquidity requirements.
• Regulations and Guidelines: Subject to regulations and applicable guidelines, the scheme may invest in other mutual fund schemes.

Fund Manager

The fund will be managed by Mr. Abhisek Jain, who will oversee the implementation of the investment strategy and ensure the scheme meets its objectives.

1. Dreaming of financial freedom? Use our Online SIP Calculator to see how regular investments can add up to grow wealth. Take the first step towards your goals. Calculate now!

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.