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Groww Mutual Fund has launched a new campaign ‘Go Green, Breathe Clean’ during the NFO of India’s first FOF EV Mutual Fund : Groww Nifty EV & New Age Automotive ETF FOF.
Under this campaign, the fund house has been distributing sapling to MFDs. In fact, the fund house has distributed saplings to over 10 Bangalore MFDs.
The campaign also aims to promote their EV FOF which will invest in units of Groww Nifty EV & New Age Automotive ETF. The underlying index comprise 33 companies from the Nifty 500 index. These companies are involved in EV manufacturing (including hybrid and hydrogen-fueled vehicles), battery production, charging infrastructure, and other crucial areas of the EV ecosystem.
The NFO of this FOF opens on July 24 and closes on August 7, 2024.
This scheme aims to leverage India’s growing Electric Vehicle (EV) market, which has achieved sales of 1.7 million units in the FY 2024 and is expected to contribute 30% of the total annual auto sales by 2030.
The government's extensive support has spurred development in this sector. Reflecting its growth potential, EV sales in India nearly doubled in 2023, comprising 2% of all passenger vehicle sales.
- EV Manufacturers
- Hybrid vehicle manufacturers
- Hydrogen fuel-based vehicle manufacturers
- Green hybrid vehicle manufacturers
- Electric battery manufacturers
- EV components producers
- Raw materials suppliers for EVs
- Raw materials suppliers for autonomous vehicles
- Autonomous vehicle producers
- Autonomous vehicle technology suppliers
Sector-wise Index Composition
|
Sector |
Weight (%) |
|
Automobile and Auto Components |
69.01 |
|
Information Technology |
13.48 |
|
Chemicals |
8.08 |
|
Capital Goods |
5.07 |
|
Oil, Gas & Consumable Fuels |
4.29 |
|
Consumer Services |
0.07 |
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 Solution Ltd. |
4.06 |
|
L&T Technology Services Ltd. |
4.04 |
|
Sona BLW Precision Forgings Ltd. |
4.03 |
|
Bosch Ltd. |
4.01 |
This scheme is managed by Abhishek Jain and has a minimum investment amount of Rs.100 and multiples of Re 1 for purchases and Re 1 for switches, for monthly SIPs.
For lump-sum investments, the minimum denomination is Rs.500 and multiples of Re. 1 for purchases and Re 1 for switches.
If redeemed within 30 days from the date of allotment, a 1% exit load is applicable.
L - R : Mr. Sidda, Mr. SL Mahendra Babu, Mr. Gulam Abbas Nassur, Mr. Pradeep Kumar, Mr. Piyush Shah, Mr. Sanjay Das and Mr. Vijay Kanthan
You may visit www.growwmf.in for more information on this scheme.
