Tata Mutual Fund has broadened its passive fund portfolio by introducing six index funds simultaneously on April 8.
These new index funds include Tata Nifty Auto Index Fund, Tata Nifty Realty Index Fund, Tata Nifty Financial Services Index Fund, Tata Nifty MidSmall Healthcare Index Fund, Tata Nifty500 Multicap India Manufacturing 50:30:20 Index Fund, and Tata Nifty500 Multicap Infrastructure 50:30:20 Index Fund.
The initial offering for these schemes will be open from April 8 to April 22, with a minimum investment requirement of Rs 5,000 during the NFO period.
Three of these schemes are industry firsts: Tata Nifty MidSmall Healthcare Index Fund, Tata Nifty500 Multicap India Manufacturing 50:30:20 Index Fund, and Tata Nifty500 Multicap Infrastructure 50:30:20 Index Fund. These benchmarks were collaboratively developed by Tata Asset Management and Nifty Indices, a subsidiary of the National Stock Exchange of India.
Anand Varadarajan, head of institutional clients, banking, alternate investments, and product strategy at Tata Asset Management, highlighted the long-term opportunities offered by these funds. He emphasized the growth potential in sectors like Real Estate, Auto, Healthcare, Infrastructure, and Manufacturing.
The three unique schemes offer the following:
- Tata Nifty MidSmall Healthcare Index Fund: This fund tracks the performance of mid-cap and small-cap stocks in the healthcare sector.
- Tata Nifty500 Multicap India Manufacturing 50:30:20 Index Fund: This index fund aims to track the performance of select large-cap, mid-cap, and small-cap stocks from the Nifty 500 index that represent the manufacturing theme.
- Tata Nifty500 Multicap Infrastructure 50:30:20 Index Fund: This fund tracks select large-cap, mid-cap, and small-cap stocks from the Nifty 500 that represent the infrastructure theme.
