Groww Mutual Fund Receives SEBI Approval for Launching India’s First Nifty Non-Cyclical Consumer Index Fund

• ByStartupStory     |    April 25, 2024

Groww Mutual Fund has announced the approval from the Securities and Exchange Board of India (SEBI) to introduce the nation’s inaugural Nifty Non-Cyclical Consumer Index Fund. This milestone marks a pivotal moment in the investment landscape, offering investors a novel avenue to diversify their portfolios.

Scheduled for a debut in the first week of May, the fund will operate as an open-ended scheme, closely mirroring the performance of the Nifty Non-Cyclical Consumer Index-TRI (Total Return Index). By tracking this index, the fund aims to attain long-term capital growth by strategically investing in securities that constitute the Nifty Non-Cyclical Consumer Index (TRI).

Non-cyclical consumer goods, often referred to as defensive or non-discretionary items, encompass products and services that tend to exhibit consistent demand regardless of economic conditions. This innovative index fund offers investors an opportunity to capitalize on the stable nature of such consumer staples.

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