Tata Asset Management Company has launched the Tata Nifty Capital Markets Index Fund, the country's first index fund based on the newly launched Nifty Capital Markets Index. 

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The index includes companies from financial services verticals such as asset management companies, exchanges and data platforms, stockbroking and allied services, depositories, clearing houses, financial products distributors, ratings, and other capital market-related services, Tata Asset Management Company said in a release.

"We have seen a massive surge of growth in demat accounts which now stands close to 16 crore. The mutual fund industry's AUM surpassed the INR 65-lakh crore mark in August 2024.  In the last decade, MF industry AUM  has moved 6.5 times from nearly INR 10 Tn to 65 Tn. That being said, India's MF AUM-to-GDP ratio stands at just 16%—well below the global average of 74%—highlighting the significant potential for future growth. The growing population and rising income level are also leading to a surge in HNI investors which are being catered by broking and wealth management outfits to meet their investment needs. This has led to the growth of the entire capital market ecosystem comprising of broking, depository, exchanges, RTAs, and so on," said Anand Vardarajan, chief business officer at Tata Asset Management.

Tata Nifty Capital Markets Index Fund: Minimum investment

You can invest a minimum of Rs 5,000 in this newly launched NFO and then in a multiple of Rs 1.

NFO Period

The NFO has started today, October 7, 2024 for subscription and will end on October 21, 2024.

However, the scheme will reopen on or before October 30, 2024.

The fund manager of  Tata Nifty Capital Markets Index Fund is Kapil Menon.

Exit Load: 0.25 per cent of the applicable NAV, if redeemed on or before 15 days from the date of allotment.

Mirae Asset Investment Managers has also launched the Mirae Asset Nifty Total Market Index Fund, an open-ended scheme replicating/ tracking the Nifty Total Market Total Return Index. The fund will open for subscription on October 08, 2024, and close on October 22, 2024. The scheme re-opens for continuous sale and repurchase on October 29, 2024. The scheme will be managed by Ekta Gala and Vishal Singh.