Groww Mutual Fund files draft documents for Nifty EV & New Age Automotive ETF

Groww Mutual Fund has filed draft documents with Sebi for Nifty EV & New Age Automotive ETF. Groww Nifty EV & New Age Automotive ETF will be an open-ended scheme replicating/tracking Nifty EV and New Age Automotive Index – Total Return Index.

The investment objective of the scheme will be to generate long term capital growth by investing in securities of the Nifty EV & New Age Automotive Index in the same proportion / weightage with an aim to provide returns before expenses that track the total return of Nifty EV & New Age Automotive Index, subject to tracking errors.

The performance of the scheme will be benchmarked against Nifty EV and New Age Automotive Index – Total Return Index. The scheme will be managed by Abhishek Jain.