Two new exchange traded funds open for subscription today
Two new exchange traded funds (ETFs) have hit the market on Monday (September 16). These are Motilal Oswal Nifty 500 Momentum 50 ETF and Groww Nifty 1D Rate Liquid ETF.
Each scheme targets distinct investment objectives.
The Motilal Oswal Nifty 500 Momentum 50 ETF aims to deliver returns closely matching the total returns of the Nifty 500 Momentum 50 Total Return Index, before expenses.
This open-ended ETF seeks to capitalise on the momentum of 50 selected securities within the broader Nifty 500 Index.
The new fund offer (NFO), which launched today (September 16) and will remain open for subscriptions until September 18, offers investors a chance to align their portfolio with the momentum-driven performance of a diverse index.
With no entry or exit loads, the minimum subscription amount is set at ₹500 and in multiples of ₹1 thereafter. However, investors should be aware that there is no assurance that the scheme’s investment objectives will be met.
Meanwhile, the Groww Nifty 1D Rate Liquid ETF also opens its subscription today, aiming to provide current income with low risk through a highly liquid portfolio.
The ETF will primarily invest in tri-party repos, repos in government securities, reverse repos, and other overnight instruments. Its objective is to offer a stable income while ensuring high liquidity.
The scheme will close for subscription on September 20, 2024, and requires a minimum investment of ₹500, with no entry or exit loads.
As with the Motilal Oswal ETF, there is no guarantee that the scheme will achieve its investment objectives.
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