New Delhi: Groww Mutual Fund has received markets regulator Sebi’s approval to launch Nifty Non-Cyclical Consumer Index Fund through a New Fund Offering (NFO).
This would be the country’s first non-cyclical index fund and the NFO is expected to go live in the first week of May, the company said in a statement. It will be an open-ended scheme tracking the Nifty Non-Cyclical Consumer Index-TRI (Total Return Index).