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Mutual Funds - Reports

09-Oct-2024 14:41

Tata AMC launches Nifty Capital Markets Index fund

Tata Mutual Fund has announced the launch of the Tata Nifty Capital Markets Index Fund, a new fund offer (NFO) that aims to provide investors with returns commensurate with the performance of the Nifty Capital Markets Index (TRI).

The NFO for the fund is open for subscription from 7 October to 21 October 2024. The scheme will then reopen for continuous sale and repurchase on 30 October 2024.

The fund will be managed by Kapil Menon. Investors can enter the fund with a minimum investment of Rs 5,000 during the NFO. An exit load of 0.25% will be applicable if units are redeemed within 15 days from allotment.

The Tata Nifty Capital Markets Index Fund will hold a maximum of 20 stocks from the parent Nifty 500 Index, representing various capital market businesses including exchanges, depositories, stockbroking, and financial products distribution. The weight of each stock in the index is based on its free-float market capitalization.

According to NSE data, the Nifty Capital Markets index delivered a return of 104.78% over the past year and a compounded annual growth rate (CAGR) of 34.80% over the past five years.

The top constituents of the Nifty Capital Markets Index are BSE, HDFC Asset Management Company, Multi Commodity Exchange of India, Central Depository Services (India), and Computer Age Management Services, which together make up over 60% of the index's portfolio.

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