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Tata Mutual Fund has launched Tata Nifty Capital Markets Index.
The underlying index - Nifty Capital Markets Index tracks give exposure to fastest growing companies from India's robust capital market. The companies forming the index have benefitted from evolving investment needs, increase in the number of retail investors and sustained capital inflows from domestic and foreign institutional investors. Currently, the index comprises top 20 stocks, with a maximum stock level capping limit of 20% in the index.
In a press release, Anand Vardarajan, Chief Business Officer, Tata MF said, “India's capital markets have been on a remarkable growth trajectory over the past few years. We have seen a massive surge of growth in demat accounts which now stands close to 16 crore. The mutual fund industry's AUM surpassed the Rs.65 lakh crore mark in August 2024. That having said, India's MF AUM-to-GDP ratio stands at just 16%, well below the global average of 74%, highlighting significant potential for future growth. Growing population and rising income level is also leading to a surge in HNI investors which are being catered by broking and wealth management outfits to meet their investment needs. This has led to growth of entire capital market ecosystem comprising broking, depository, exchanges, RTAs and so on.”
