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Groww MF launches Nifty India Internet ETF: Here's all you need to know
This Exchange-Traded Fund (ETF) offers diversified exposure to companies driving India's internet-led transformation. It seeks to invest in companies that derive a significant portion of their revenues from internet-based business models.
According to the Scheme Information Document (SID), the Groww Nifty India Internet ETF is free float market capitalisation-weighted, with a cap of 20 per cent per constituent. It is rebalanced quarterly and reconstituted semi-annually, ensuring it remains responsive to market developments.
The composition of the Nifty India Internet Index spans six broad sectors, including e-retail and e-commerce, financial technology, internet-enabled retail, stockbroking, digital travel, and online media. Over 83 per cent of the portfolio comprises mid and large-cap stocks.
As per , the investment objective of the scheme is to generate long-term capital growth by investing in securities of the Nifty India Internet Index in the same proportion, with the aim of providing returns before expenses that track the total return of the Nifty India Internet Index, subject to tracking errors. However, there can be no assurance or guarantee that the investment objective of the scheme will be achieved.
During the NFO, investors can invest a minimum of ₹500 and in multiples of ₹1 thereafter, with units allotted in whole numbers and any remaining amount refunded. After the NFO, only Market Makers and Large Investors (with transactions over ₹25 crores) can buy or redeem units directly from the Mutual Fund in creation unit sizes.
According to the SID, post-NFO, the ETF will be listed on the National Stock Exchange (NSE). If units are redeemed, no exit load will be charged.
Nikhil Satam, Aakash Ashokkumar Chauhan, and Shashi Kumar are the designated fund managers for the scheme.
Who should invest in the Groww Nifty India Internet ETF?
According to the SID, the fund is suitable for investors seeking long-term capital appreciation and investment in equity and equity-related instruments of the Nifty India Internet Index. However, investors should consult their financial advisers if in doubt about whether the product is suitable for them.
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