Tata Mutual Fund (MF) has launched Tata Nifty India Digital ETF Fund of Funds, an open-ended fund of fund scheme investing in Tata Nifty India Digital Exchange Traded Fund (ETF).
Tata Nifty India Digital ETF Fund of Fund is an open-ended fund of fund scheme investing in Tata Nifty India Digital Exchange Traded Fund. Tata Nifty India Digital ETF Fund of Fund is a wrapper on Tata Nifty India Digital Exchange Traded Fund.
It is a passive portfolio based on Nifty India Digital Index, a pre-defined methodology that helps in capturing more sub-segments under IT & Digital as compared to IT Index.
The investment objective of the fund is to provide long-term capital appreciation by investing in Tata Nifty India Digital Exchange Traded Fund. Meeta Shetty will be the fund manager with minimum investment account 5,000/- and thereafter in multiples of Rs.
“Tata Nifty India Digital ETF with relatively higher equity market company listing will be more exposure to new age digital companies over a period now and then. Thus it will increase the pie of alpha generators in Nifty India Digital Index as compared to stable compounders and thus the ETF Fund of Funds is tracking to be a single index,” the fund house said.
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