Tata MF launches Tata Nifty India Digital ETF

Hyderabad: Tata Mutual Fund launched Tata Nifty India Digital Exchange Traded Fund, an open-ended exchange traded fund (ETF) replicating or tracking Nifty India Digital Index. The new fund offer will open on March 14, 2022 and closes on March 25, 2022.

NSE 500 as the universe for Nifty India Digital Index, basic industries is defined to cover companies which are focused on digital technology by the Index constructor NSE. The current index selects top-30 companies based on market cap which align to the pre-defined set of basic industries.

Meeta Shetty, senior analyst and fund manager, Tata Mutual Fund, said: "Tata Nifty India Digital Exchange Traded Fund is a passive portfolio replicating a pre defined Digital India Index. As this transformation unfolds and the new age companies become a more prominent part of the economy and equity markets, we see the emergence of new hybrid segments like consumer tech, fintech, edtech, etc. The portfolio, over a period, would have adequate representation to Digital enablers as well.