July 23, 2024
mayank
Groww Nifty EV & New Age Automotive ETF FoF details, Fund Portfolio, Fund Returns, Peer Comparison, Mutual Fund Guidance @chanakyamfguidance
Table of Contents:
- NFO Open date, Close date
- NFO Investment Strategy
- NFO Basic Details
- NFO Benchmark Index
- Past Performance of NFO Benchmark Index
- Performance Review of Fund Manager
- Should You Invest in this NFO?
- Invest Online
What is the Groww Nifty EV & New Age Automotive ETF FoF Open Date, Close Date?
NFO opens on July 24, 2024
NFO will close on August 07, 2024
What is the Investment Strategy?
The scheme seeks to generate long term capital gains by investing in units of the Groww Nifty EV & New Age Automotive.
Basic Details
| Fund House | Groww Mutual Fund |
| Issue Open | 24 July 2024 |
| Issue Close | 07 August 2024 |
| Type | Open-ended |
| Category | Equity: Thematic |
| Min. Investment(Rs) | 500 |
| Plans | Growth, IDCW |
| Lock-in Period | NA |
| Exit Load | 1% for redemption within 30 days |
| Riskometer | Very High |
| Benchmark | Nifty EV and New Age Automotive TRI |
What is the Benchmark Index of Groww Nifty EV & New Age Automotive ETF Fund of Fund?
The Nifty EV & New Age Automotive Index aims to track the performance of the companies which are active in electric vehicles or new age automotive vehicles (such as hybrid vehicles, hydrogen fuel based vehicles and green hybrid vehicles) segment. This particularly includes manufacturers of electric vehicles, new age automotive vehicles, electric batteries; electric vehicles or electric battery component producers, companies produce or supply raw materials that are relevant to the electric vehicle and autonomous vehicle technology segment, companies that build autonomous vehicles, and suppliers of autonomous vehicle technologies.
Nifty EV & New Age Automotive Index can be used for a variety of purposes such as benchmarking fund portfolios, launching of index funds, ETFs and structured products.
Index Variant : Nifty EV & New Age Automotive Total Returns Index.
Past Performance of Benchmark Index
| Index Returns (%) | QTD | YTD | 1 Year | 5 Years | Since Inception |
| Price Return | 21.09 | 32.66 | 61.21 | 33.17 | 20.94 |
| Total Return | 21.40 | 33.09 | 62.57 | 34.51 | 22.12 |
| Statistics ## | 1 Year | 5 Years | Since Inception |
| Std. Deviation * | 14.09 | 20.58 | 19.81 |
| Beta (NIFTY 50) | 0.84 | 0.89 | 0.90 |
| Correlation (NIFTY 50) | 0.76 | 0.84 | 0.83 |
Fundamentals
| P/E | P/B | Dividend Yield |
| 35.16 | 6.54 | 0.83 |
Top constituents by weightage
| Company’s Name | Weight(%) |
| Tata Motors Ltd. | 8.26 |
| Maruti Suzuki India Ltd. | 7.91 |
| Mahindra & Mahindra Ltd. | 7.85 |
| Bajaj Auto Ltd. | 7.84 |
| Reliance Industries Ltd. | 4.29 |
| KPIT Technologies Ltd. | 4.12 |
| CG Power and Industrial Solutions Ltd. | 4.06 |
| L&T Technology Services Ltd. | 4.04 |
| Sona BLW Precision Forgings Ltd. | 4.03 |
| Bosch Ltd. | 4.01 |
Performance Review of the Fund Manager of Groww Nifty EV & New Age Automotive ETF Fund of Fund?
1) Abhishek Jain
Education: Mr. Jain has done BA, CA
Experience: Prior to joining Groww MF he was associated with Edelweiss Tokio Life Insurance, Acko General Insurance and Shriram Asset Management Co Ltd.
Past Performance of his Schemes
| Fund | Groww Nifty Total Market Index Fund | It’s Benchmark | Groww Nifty Non-Cyclical Consumer Index Fund | It’s Benchmark |
| 1 Year | — | — | — | — |
| 3 Year | — | — | — | — |
| 5 Year | — | — | — | — |
| 7 Year | — | — | — | — |
| 10 Year | — | — | — | — |
As on 23-7-2024
Which Company Owns Groww Nifty EV & New Age Automotive ETF FoF?
Groww Asset Management Limited
Address: Floor 12 A, Tower 2 A, One World Centre, Jupiter Mills Compound Senapati Bapat Marg, Mumbai – 400013
Website: http://growwmf.in
Registrar & Transfer Agent:
KFin Technologies Ltd.
Address: 303, Vamsee Estates, Opp. Big Bazaar, Ameerpet, Hyderabad – 500016
Website: https://mfs.kfintech.com/mfs/
Is it good to invest in Groww Nifty EV & New Age Automotive ETF Fund of Fund NFO?
Guidance for Groww Nifty EV & New Age Automotive ETF FoF by Paresh Gordhandas, C.A., Research Analyst.
After the Mirae Asset Nifty EV and New Age Automotive ETF launched in July 2024, it is now Groww Mutual Fund which is coming with a similar fund. Such funds aim to capitalise not just from electric vehicles but also future disruptions like hydrogen fuel cell and autonomous vehicles. This is a passively managed Index Fund. Proactive measures from the government, such as the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme, and production linked incentives (PLI) are likely to create a strong EV ecosystem in India.
The Nifty EV New Age Automotive Index chooses 33 stocks from the Nifty 500 index, which must be involved in the production and supply of electric or new-age automotive vehicles, batteries, components, raw materials, and technology. The total weight of stocks of electric two, three, and four-wheeler, and passenger and commercial vehicle (including new-age vehicle) manufacturers is capped at 40 percent.
The risk grade in such type of Fund is very high since it is a very niche fund. If you do wish to invest in such a fund, we believe that the Mirae Asset Fund would be a better choice because of its strong network and ability to raise higher funds. Groww Mutual Fund is a comparatively new Fund House with limited reach among investors. Inspite of a long history, Mirae has an AUM of only Rs. 33.62 crores as on 31st July 2024 for this Fund – which will give you an idea.
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