Groww Mutual Fund launches Nifty Non-Cyclical Consumer Index Fund

TRI stands for Total Return Index

Groww Mutual Fund on Thursday announced the launch of India’s first Nifty Non-Cyclical Consumer Index Fund. The New Fund Offer (NFO) or the scheme will be available for subscription till May 16. The fund, an open-ended scheme, aims to generate long-term capital growth by investing in securities of the Nifty Non-Cyclical Consumer Index (TRI) in the same proportion or weightage, Groww Mutual Fund said in a statement.

The New Fund Offer (NFO) or the scheme will be available for subscription till May 16. The fund, an open-ended scheme, aims to generate long-term capital growth by investing in securities of the Nifty Non-Cyclical Consumer Index (TRI) in the same proportion or weightage, Groww Mutual Fund said in a statement.

TRI stands for Total Return Index. ”The Groww Nifty Non-Cyclical Index fund is India’s first index fund, which enables people to invest in the top stocks from consumer industries such as FMCG, Textiles, etc. These companies manufacture items we need in our daily lives and tend to be slightly more insulated from economic cycles and therefore are seen as non-cyclical sectors,” Harsh Jain, Co-founder and COO, of Groww said.