Nifty Non-Cyclical Consumer Index Fund

• 08 May 2024

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.