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Groww Launches ETF for Public Sector Giants
22 Jan
Summary
- New Groww Nifty PSE ETF tracks India's public sector enterprises.
- The NFO closes on February 5, offering passive investment exposure.
- Minimum investment starts at Rs 500 with no exit load.
Groww Mutual Fund has introduced the Groww Nifty PSE ETF, an open-ended exchange-traded fund. This new scheme aims to passively track the Nifty PSE Index TRI, offering investors exposure to India's public sector enterprises.
The New Fund Offer (NFO) is currently open for subscription and will conclude on February 5. The fund seeks long-term capital appreciation by investing in equity and related instruments, mirroring the Nifty PSE Index constituents.
The Groww Nifty PSE ETF is suitable for investors looking for exposure to India's infrastructure and growth sectors. It allows participation in public sector companies through a transparent, rules-based index approach.
Investors can begin investing with a minimum amount of Rs 500, with no exit load applicable. The fund managers will aim to replicate the index's performance, providing returns before expenses, subject to tracking error.
The ETF will be listed on stock exchanges, enabling unit trading similar to equity shares during market hours. Market makers will ensure liquidity in the secondary market for this new offering.
