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Mutual Funds - Reports

16-Jan-2025 13:53

Groww launches new funds to tap into India's railway sector growth

Groww Mutual Fund has launched the Groww Nifty India Railways PSU Index Fund and ETF. These funds aim to provide investors with exposure to the Indian Railways sector, a critical component of the country's infrastructure. '

The New Fund Offer (NFO) for both instruments is open from January 16, 2025, to January 30, 2025. Both products seek to track the Nifty India Railways PSU Index, which encompasses a diverse range of Public Sector Undertakings (PSUs) crucial to the Indian Railways, covering areas like infrastructure, logistics, finance, and technology. '

As the world's fourth-largest railway network, Indian Railways plays a vital role in the country's economy. In FY 2024, it transported a staggering 6.7 billion passengers and moved over 1,588 million metric tonnes of freight. '

The sector is currently undergoing a significant transformation, fueled by a substantial capital expenditure plan of Rs 2.62 lakh crore for FY 2024-25. This investment will drive modernization initiatives, including high-speed rail projects, station redevelopments, and the integration of renewable energy sources, enhancing operational efficiency and sustainability. '

The ETF directly mirrors the Nifty India Railways PSU Index-TRI, offering investors a transparent and cost-effective way to participate in the sector's growth. The portfolio is weighted towards mid-cap stocks, which have the potential for significant long-term growth. The fund comprises 14 stocks with growth potential, providing diversified exposure to the railway sector.

Data suggests the Nifty India Railways PSU Index has outperformed the Nifty 500 Index over various timeframes. The index has delivered 26.81% returns for 1-year investment horizons. From April 2001 to December 2024, this index recorded a CAGR of 46.55%.

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