NFO Alert: Groww Mutual Fund launches Nifty 500 Low Volatility 50 ETF
has announced the launch of the
Groww Nifty 500 Low Volatility 50 ETF
, an open‐ended scheme that aims to track the Nifty 500 Low Volatility 50 Index - TRI.
The
New Fund Offer
(NFO) is currently open for subscription and will close on June 11. The scheme will reopen for continuous sale and repurchase on or before June 25.
The investment objective of the scheme is to generate long-term capital growth by investing in securities of the Nifty 500 Low Volatility 50 Index in the same proportion/weightage, with the aim of providing returns (before expenses) that closely track the total return of the index, subject to tracking errors.
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The scheme will be benchmarked against the Nifty 500 Low Volatility 50 Index - TRI and will be managed by Nikhil Satam, Aakash Chauhan, and Shashi Kumar.
During the NFO period, the minimum investment amount is Rs 500, with subsequent investments in multiples of Re 1. Units will be allotted in whole figures, and any balance amount, if below the minimum, will be refunded.
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The passive fund will allocate 95–100% of its assets to the constituents of the Nifty 500 Low Volatility 50 Index, and 0–5% to money market instruments, debt securities, and/or units of debt/liquid schemes of domestic
mutual funds
.
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Fund Consistency: 29 equity mutual funds offer more than 25% CAGR over 3 and 5 years
The Groww Nifty 500 Low Volatility 50 ETF will be managed passively, with investments made in the same proportion as the index constituents. The investment strategy is to replicate the index closely and minimize tracking error through regular rebalancing based on changes in stock weights and investor flows.
The fund is suitable for investors seeking long-term capital appreciation through exposure to equity and equity-related instruments that form part of the Nifty 500 Low Volatility 50 Index.
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