Nifty Non-Cyclical Consumer Index Fund

Groww Mutual Fund has announced the launch of the Groww Nifty Non-Cyclical Consumer Index Fund, an open-ended equity scheme tracking the Nifty Non-Cyclical Consumer Index.

Key Points

The scheme opened for public subscription on May 02, 2024, and will close on May 16, 2024. The scheme re-opens for continuous sale and repurchase within five business days from the date of allotment.
Non-cyclical stocks are also known as defensive stocks.
It is a mutual fund designed to foster long-term capital growth through investments in the securities of the Nifty Non-Cyclical Consumer Index.
The aim of the fund is to achieve long-term capital growth by investing in the securities of the Nifty Non-Cyclical Consumer Index (TRI) in their respective proportions and weightings.
It is India’s first index fund which enables people to invest in the top stocks from consumer industries such as FMCG, Textiles, etc.
These stocks maintain constant demand and are not influenced by cyclical fluctuations because they provide everyday essentials such as food, water, and utilities.