The minimum application amount for both the schemes will be Rs 1,000 and in multiples of Re 1 thereafter. The schemes will be managed by Nemish Sheth. The schemes will offer regular and direct plans with both growth and IDCW options.
The Nifty Total Market Index is a comprehensive index comprising 750 stocks from various market segments, including large, mid, small, and microcap, with constituent companies drawn from the Nifty 500 and Nifty Microcap 250 indices
The Groww Nifty Total Market Index Fund will hold 750 stocks in its portfolio as per its benchmark index, the Nifty Total Market Index. It’s part of a growing tribe of broad-market index funds that aims to do the opposite of what active fund managers do. So far, this category has failed to pick up.
ESG funds as a category never really took off and still have just over Rs 10,000 crore in combined AUM across a handful of schemes. These new categories will only create confusion instead of funnelling funds.