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Nippon India Nifty Auto ETF
January 6 , 2022
914 days
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- Nippon Life India Asset Management Limited announced the launch of Nippon India Nifty Auto ETF.
- It is India’s first of its kind in this regard.
- The New Fund Offer (NFO) was opened on 5 January 2022 and get closed on 14 January 2022.
- The minimum investment amount required is ₹1,000.
- Investors can add in multiples of Re 1 thereafter.
- The Nippon India Nifty Auto ETF (exchange-traded funds) is an open-ended scheme that will replicate the Nifty Auto Index.
- ETF will predominantly invest in stocks comprising the Nifty Auto Index in the same proportion as the index adding that it will provide exposure to top 15 (as per Nifty Auto Index methodology) companies.
- The company here represents auto-related sectors like automobiles 2,3 or 4 wheelers, auto ancillaries, and tires.
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