Nippon India MF launches India’s first Auto ETF 2022 – World Affairs SRS

Nippon India MF launches India’s first Auto ETF 2022

– World Affairs SRS

Nippon Life India Asset Management Limited, property manager Nippon India Mutual Fund (NIMF), has announced the launch of India’s first Auto Sector ETF – Nippon India Nifty Auto ETF. The Nippon India Nifty Auto ETF will primarily invest in stocks comprising the Nifty Auto Index in the same proportion as the index. It will provide exposure to the top 15 (as per Nifty Auto Index methodology) companies representing auto-related sectors Automobile 4 wheeler, Automobile 2 and 3 wheeler, Auto ancillary and tyres.

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Nippon Auto ETF to start operations From 5 January 2022 to 14 January 2022. The minimum investment amount required is Rs 1,000 and in multiples of Rs 1. The investment objective of the scheme is “to provide investment returns commensurate with the total returns of securities before expenditure by Nifty Auto Index, subject to tracking error. However, there can be no assurance or guarantee that the investment objective of the scheme will be achieved.” Will go

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