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Groww MF increases minimum investment requirements for Nifty Total Market Index Fund: What this means for investors
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
The minimum application amount for the Groww Nifty Total Market Index Fund has been revised from ₹10 per application to ₹100 per application.
Groww Mutual Fund has announced changes to investment criteria for its Nifty Total Market Index Fund. The alterations focus on the minimum application and Systematic Investment Plan (SIP) amounts.
The minimum application amount for the Groww Nifty Total Market Index Fund has been revised from ₹10 per application to ₹100 per application.
Additionally, investors opting for SIPs will face revamped minimum investment requirements across different frequencies.
For weekly and monthly SIPs, the minimum amount has been elevated from ₹10 to ₹100. For investors selecting the quarterly SIP frequency, the minimum amount has been raised from ₹10 to ₹300.
The raised minimum investment thresholds represent a higher entry barrier for new investors.
With fewer smaller investors and larger sums being invested, the fund may experience improved liquidity and stability.
Existing investors in the Groww Nifty Total Market Index Fund may need to reassess their investment strategies in light of the increased minimum amounts.
They may consider factors such as affordability, investment goals, and the impact on their overall portfolio allocation.
In a separate development, financial services company Groww said it has received the Securities and Exchange Board of India’s (SEBI’s) approval to launch the Nifty Non-Cyclical Consumer Index Fund through a new fund offering (NFO).
This will be India’s first non-cyclical index fund and will be launched by Groww Mutual Fund.
The NFO is expected to go live in the first week of May.
It will be an open‐ended scheme tracking the Nifty Non-Cyclical Consumer Index–TRI.
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