Groww Mutual Fund has launched a new Open Ended Growth scheme named "Groww Nifty 500 Momentum 50 ETF FOF" with maturity period of 0 days from the launch date.
The New Fund Offer (NFO) price for the scheme is Rs 10.00 per unit, which will open for subscription from Apr 03 to Apr 17, 2025.
According to the offer document filed with SEBI, the entry load is Nil and exit load is 1.
The minimum application amount is Rs 500.00 and in multiples of Rs 1 thereafter. The options available under the plan of the scheme are Growth, IDCW, IDCW-Reinvestment.
The fund manager of the scheme will be Nikhil Satam, while the performance of the scheme will be benchmarked against Nifty500 Momentum 50 Total Return.
The investment objective of the Scheme is to generate long-term capital growth by investing in units of the Groww Nifty 500 Momentum 50 ETF However, there can be no assurance or guarantee that the investment objective of the scheme will be achieved.