Tata Mutual Fund Introduces Tata Nifty India Digital ETF Fund Of Fund

Mar 25, 2022

Tata Mutual Fund has launched a new scheme Tata Nifty India Digital ETF Fund of Fund.

It is an open ended fund of fund scheme investing in Tata Nifty India Digital Exchange Traded Fund.

The Investment Objective of the scheme is to provide long-term capital appreciation by investing in Tata Nifty India Digital Exchange Traded Fund. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved.

Tata Nifty India Digital ETF Fund of Fund is mandated to invest 95% to 100% of its net assets in Units of Tata Nifty India Digital Exchange Traded Fund, and 0% to 5% of the net assets in Debt & Money Market Instruments.

About Tata Nifty India Digital ETF (the Underlying Fund):

The Underlying Tata Nifty India Digital Exchange Traded Fund is a passively managed exchange-traded fund which will employ an investment approach designed to track the performance of the Nifty India Digital Index. The scheme seeks to achieve this goal by investing in securities constituting the underlying Index in the same proportion as in the Index.

Tata Nifty India Digital Exchange Traded Fund will be a diversified Index based fund which will invest predominantly in equity and equity related securities identified with focus on growth opportunities provided by emerging technology and internet companies like Online shopping, Food delivery, Travel Management, Gaming, Cloud computing, Fintech & Edu-tech companies etc.

Tata Nifty India Digital Exchange Traded Fund will invest at least 95% of its total assets in the securities comprising the Underlying Index which have been identified as companies benefitting from the digital transformation and new age technology provider in the same weightage as in the Nifty Digital Index.

Tata Nifty India Digital ETF Fund of Fund is the first domestic Fund of Fund offering of Tata Mutual Fund that predominantly invests in units of the Tata Nifty India Digital Exchange Traded Fund.

Tata Nifty India Digital ETF Fund of Fund’s performance will be benchmarked against Nifty India Digital TRI Index.

The fund will be managed by Ms Meeta Shetty.

The NFO opens for subscription on March 25, 2022 and closes on April 08, 2022. The scheme will reopen for continuous sale and repurchase on or before: April 22, 2022.

The minimum subscription amount is Rs 5,000 and in multiples of Re 1 thereafter.

The fund offers Regular Plan and Direct Plan having Growth Option and Income Distribution cum Capital Withdrawal (IDCW) Option (Re-investment and Pay-out facilities).