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Tata AMC has launched India's first index fund based on the Nifty Capital Markets Index.

Banking & Finance | Dated: 22 Oct 2024

Tata Asset Management Company (AMC) has launched the Tata Nifty Capital Markets Index Fund, which is India’s first index fund aimed at investing in companies from the Nifty Capital Markets Index. This fund will track the performance of selected companies from the Nifty 500 Index.

🎯 Key Highlights:

  • - The fund will invest in a maximum of 20 stocks from the Nifty 500 Index, covering various capital market sectors such as financial services, asset management firms, exchanges, stockbroking companies, depositories, and clearing houses.

💡 Other Important Facts:

  • (i) The New Fund Offer (NFO) for the Tata Nifty Capital Markets Index Fund will be open from October 7 to October 21, 2024. It will reopen for subscription on or before October 30, 2024.
  • (ii) The minimum investment is ₹5,000 (in multiples of ₹1), and an exit load of 0.25% of the applicable Net Asset Value (NAV) will be charged if units are redeemed within 15 days of allotment.
  • (iii) According to the Scheme Information Document (SID), the maximum allowable Total Expense Ratio (TER) under Regulation 52(6)(b) is up to 1%.

📚 Test Your Knowledge:

Which company recently launched India's first index fund based on the Nifty Capital Markets Index?

Correct Answer: Tata AMC

🚀 Quick Recap: