Groww Nifty India Defence ETF FOF NFO: Date, Review, NAV

Groww Nifty India Defence ETF FOF: Complete Overview

Groww Mutual Fund launched the Groww Nifty India Defence ETF FOF. AMC Groww Asset Management Limited has set an ETF FOF price of Rs.500 and a multiple of Rs.1 afterward. This new fund offer is available from September 23, 2024, to 04 October 2024. This open-ended scheme aims to invest in the Groww Nifty India Defence ETF. This mutual fund scheme reopens for sale and repurchase on 18 October 2024, and it has a very high risk. 

 

Investment Objective

This Scheme is largely aimed at accumulating Groww Nifty India Defense ETF units to create capital over a long period of time.

95-100% of the securities in the units of Groww Nifty India Defence ETF and 0-5% will be invested in money market instruments or debt securities or units of domestic mutual funds, whether debt or liquid funds.

For more information about this new NFO Mutual Fund continue to read.

 

Suitability of Fund

A product of this nature is designed for investors who wish to invest in the units of Groww Nifty India Defence ETF only for long-term capital gain and investment in defence-related companies.

Scheme Plan: 

Groww Nifty India Defence ETF FOF- Direct Plan

Groww Nifty India Defence ETF FOF- Regular Plan

Groww Mutual Fund Details

• AUM of Rs.857.24 crore (as of 30 Jun 2024) 

 

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Fund Overview

How to Invest in The Scheme After the Closure of The NFO?

If you have missed participating in the NFO and now want to invest in the same Scheme on a continuous basis, then on 18 October 2024  when the Scheme will reopen; you will have the option to participate and invest directly in the Mutual Fund by spending at NAV based price by logging on to your Demat account and search for “Groww Nifty India Defence ETF FOF” or directly with the AMC or simply click the ‘Banner’ below.

 

Asset Allocation (% of Total Assets) of the Scheme's portfolio will be as follows:

 

 

Peers of Groww Nifty India Defence ETF FOF

No scheme in this exact category with the same benchmark was available as of 28 September 2024.Since this scheme is new, hence no comparable data on its past performance against its peers is available.

 

Risk Factors In Such Funds

• The Fund of Funds scheme may result in an uneven charging of charges over time because it will invest in an underlying scheme, and the expenditure charged will rely on the underlying scheme's structure, which may differ.

• Investors may not be able to acquire precise details of the investments of the underlying schemes because factsheets and portfolio disclosures in the Fund of Funds (FOF) will only provide details of the schemes invested at the FOF level.

• For a variety of reasons, the fund of funds scheme may perform or yield different returns than the underlying scheme. Total expenditure ratio, cash drag, timing, and pricing discrepancies between subscriptions and redemptions in the Fund of Funds and the underlying scheme, as well as operational and transactional factors, may all affect the Fund of Funds' performance.

• The market price of the underlying ETF may fluctuate from its Indicative Net Asset Value (INAV) / NAV when the FOF invests in it through a stock exchange. This could have an impact on the scheme's performance.

Past Performance of Nifty India Defence Funds

 

Groww Nifty India Defence ETF FOF- Fund Managers:

• Mr. Abhishek Jain

Conclusion

The Groww Nifty India Defence ETF FOF aims at investors who wish to invest for long term capital growth and are keen on investing in companies in the defence sector. It comes with a high degree of risk but offers a possibility of decent returns in the future. The fund allows for additional purchase and redemption from the aforementioned date, with a provision for additional purchase of units available for Rs.500 only. Like every other investment, understand the risks involved and your investment objectives before making any investments in the said fund.