Groww MF launches India’s first multi cap index fund

Groww Mutual Fund has launched Groww Nifty Total Market Index Fund, based on the NIFTY Total Market Index.

The index fund will track Nifty Total Market Index Fund that constitutes 750 stocks across large, mid and small cap segments. While large-cap stocks account for 72.03% of its weightage, about 27.97% is attributed to mid, small, and microcap stocks. The index represents around 96% of the NSE's total market capitalization compared to the 49% covered by the NIFTY 50.

Anupam Tiwari (Fund Manager) will be managing the fund.

In a press release, Harsh Jain, COO & Co-founder, Groww MF said, "India's economic story is multi-dimensional, with growth seen across diverse sectors. The index fund seeks to offer investors an opportunity to benefit from India’s growth.”