On Monday, September 16, two new exchange-traded funds (ETFs) hit the market. These are the Motilal Oswal Nifty 500 Momentum 50 ETF and the Groww Nifty 1D Rate Liquid ETF.
Each plan has different investment objectives.
The Motilal Oswal Nifty 500 Momentum 50 ETF aims to deliver returns that closely match the total returns of the Nifty 500 Momentum 50 Total Return Index, before charges.
This open-ended ETF seeks to capitalize on the momentum of 50 selected stocks within the broader Nifty 500 index.
He new funds offering (NFO), which launched today (September 16) and will remain open for subscriptions until September 18, offers investors the opportunity to align their portfolio with the momentum-driven performance of a diverse index.
With no entry or exit charges, the minimum subscription amount is set at ₹500 and in multiples of ₹1 thereafter. However, investors should note that there is no guarantee that the investment objectives of the scheme will be met.
Meanwhile, the Groww Nifty 1D Rate Liquid ETF also opens for subscription today, aiming to provide low-risk current income through a highly liquid portfolio.
The ETF will invest primarily in tri-party repos, government bond repos, reverse repos and other overnight instruments. It aims to provide a stable income while ensuring high liquidity.
The plan will close for subscriptions on September 20, 2024, and requires a minimum investment of ₹500, with no entry or exit charges.
As with the Motilal Oswal ETF, there is no guarantee that the scheme will achieve its investment objectives.
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