Tata Mutual Fund has launched Tata BSE Business Group Index Fund. The NFO opens on November 25 and closes on December 9.
The fund tracks the BSE Select Business Groups index, comprising companies from seven of India’s largest business groups spanning 19 diverse industries. The underlying index will include 30 companies from key sectors with the financial services sector excluded to focus on other industries.
The seven business groups include Tata Group, Reliance Industries, Adani Group, Aditya Birla Group, L&T, Jindal Group and Mahindra Group while the weightage for each group is capped at 23% based on their free-float market capitalization.
Anand Vardarajan, Chief Business Officer, Tata MF said, “The fund provides investors with a unique opportunity to participate in the growth story of India's leading conglomerates. These businesses have demonstrated their ability to adapt and thrive in a dynamic market environment, making them one of the attractive investments for long-term investors."
