Tata Mutual Fund launches Tata Nifty India Digital Exchange Traded Fund

Tata Mutual Fund (MF) has launched Tata Nifty India Digital ETF Fund of Fund, an open-ended fund of fund scheme investing in Tata Nifty India Digital Exchange Traded Fund (ETF).

Speaking on the launch, Meeta Shetty, Senior Analyst & Fund Manager, Tata Mutual Fund, said, “Tata Nifty India Digital Exchange Traded Fund is a passive portfolio replicating a pre- defined Digital India Index. Current characteristics of Nifty India Digital Index based on its index construction methodology represents the digital change agent companies and digital enablers. Digital transformation is still in the early stages and we expect more new age companies to achieve scale, raise capital.

The investment objective of the fund is to provide long-term capital appreciation by investing in Tata Nifty India Digital Exchange Traded Fund. Meeta Shetty will be the Fund Manager. The minimum investment account is 5,000/-, with subsequent deposits in multiples of Re 1/-.