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Tata Mutual Fund has launched Tata Nifty India Tourism Index Fund, an open-ended index fund which will track the Nifty India Tourism Index.
The fund aims to provide investors exposure to India’s fastest growing companies from travel, tourism and hospitality businesses that are leaders in their respective segments and have benefitted from the rising disposable income levels, evolving tastes of the Indian consumer and sustained higher discretionary spends.
The industries that the fund will invest in include hotels and resorts, airlines, restaurants, tour & travel related services, airports and airport services and luggage industry. The fund portfolio will initially consist of 17 stocks with a maximum stock level capping limit of 20% in the index. It can expand to a maximum of 30 stocks from the parent index Nifty 500.
The minimum application amount during NFO is Rs. 5,000.
