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NIPPON INDIA MUTUAL FUND (NIMF) LAUNCHES INDIA’s FIRST AUTO ETF NIPPON INDIA NIFTY AUTO ETF

NIPPON INDIA MUTUAL FUND (NIMF) LAUNCHES INDIA’s FIRST AUTO ETF  NIPPON INDIA NIFTY AUTO ETF

Nippon Life India Asset Management Limited (NAM India) asset manager of Nippon India Mutual Fund (NIMF), announces the launch of Nippon India Nifty Auto ETF, India’s First Auto sector ETF. The Auto ETF is an open-ended scheme replicating/ tracking Nifty Auto Index

 

The NFO opens on 5th January 2022 and closes on 14th January 2022. The minimum investment amount required during New Fund Offer (NFO) is Rs 1,000 and in multiples of Re 1 thereafter.

 

Nippon India Nifty Auto ETF will predominantly invest in stocks comprising of the Nifty Auto Index in the same proportion as the Index. It will provide exposure to Top 15 (as per Nifty Auto Index methodology) companies representing auto-related sectors like Automobiles 4 wheelers, Automobiles 2 & 3 wheelers, Auto Ancillaries, and Tyres.

 

The ETF is fully designed to reflect the behaviour and performance of the Automobiles sector. It will be benchmarked against Nifty Auto TRI. The investment objective of the scheme is to provide investment returns closely corresponding to the total returns of the securities as represented by the Nifty Auto Index before expenses, subject to tracking error. However, there can be no assurance or guarantee that the investment objective of the Scheme will be achieved.

  

Speaking at the launch, Hemen Bhatia, Head ETF, Nippon India Mutual Fund said, “Nippon India Mutual Fund has been at the forefront of a very fast-growing industry, establishing one of the most robust and differentiated ETF platforms in India. Nippon India Nifty Auto ETF is yet another addition to our ETF offerings, helping investors to participate in India's Auto sector growth story through investing in a basket of 15 stocks representing the Nifty Auto Index. Nippon India Nifty Auto ETF which is the first Auto sector ETF to be launched in India, will provide a simple and low-cost (in terms of total expense ratio) portfolio building block to participate in the auto sector”. Adding further he said that “With most headwinds like supply constraints of semi-conductor along with increasing commodity prices behind us and with the street view moving from fear of electrification to seeing Electric Vehicle (EV) as an opportunity, investors will get exposure to EV theme as well, as part of the overall auto sector exposure. It is an honour to play a critical role in helping so many investors achieve their investment goals” 

 

Nippon India Mutual Fund (NIMF) is the one of the largest ETF player in India with an AUM of more than Rs. 500 billion as on November 30, 2021It has one of the most comprehensive ETF bouquets comprising of 23 ETFs in the industry across Equities, Debt and Commodity. With over 65 lakh folios in ETFs as on November 30, 2021, NIMF has a market share of 60%.

 

*As on November 30, 2021

^Q2 ended September 30, 2021

 

The information herein is meant only for general reading purposes and the views being expressed only constitute opinions and therefore cannot be considered as guidelines, recommendations or as a professional guide for the readers. The document has been prepared on the basis of publicly available information, internally developed data and other sources believed to be reliable. The sponsor, the Investment Manager, the Trustee or any of their directors, employees, associates or representatives (“entities & their associates”) do not assume any responsibility for, or warrant the accuracy, completeness, adequacy and reliability of such information. Recipients of this information are advised to rely on their own analysis, interpretations & investigations. Readers are also advised to seek independent professional advice in order to arrive at an informed investment decision. Entities & their affiliates including persons involved in the preparation or issuance of this material shall not be liable in any way for any direct, indirect, special, incidental, consequential, punitive or exemplary damages, including on account of lost profits arising from the information contained in this material. Recipient alone shall be fully responsible for any decision taken on the basis of this document

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