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Tata Mutual Fund launches Tata Nifty India Digital Exchange Traded fund

March 15, 2022

Tata Mutual Fund launches Tata Nifty India Digital Exchange Traded fund
Tata Mutual Fund sent off Tata Nifty India Digital Exchange Traded Fund an open-ended Exchange Traded Fund replicating/following Nifty India Digital Index. The new fund offers or NFO opened for subscription on 14 March, and it will close on 25 March.

The list will choose the top 30 organizations, in view of the market cap which aligns with the pre-defined set of basic industries.
 
Speaking on the launch, Meeta Shetty, Senior Analyst and Fund Manager, Tata Mutual Fund, said, “Tata Nifty India Digital Exchange Traded Fund is a passive portfolio replicating a pre-defined Digital India Index. Current attributes of Nifty India Digital Index are based on its index construction methodology representing the digital change agent companies’ digital enablers. Digital transformation is as yet in the beginning phases and we expect more new-age companies should achieve scale, raise capital, and get listed over the next 3-5 years. 
 
“As this transformation unfolds and the new age organizations become a more prominent part of the economy and value markets, we see the development of new hybrid segments like consumer tech, fintech, edtech, and so on. The portfolio, over a period, would have adequate representation to Digital enablers as well as IT Services/Cloud transformation/SaaS companies. The Indian IT services companies which are ahead in digital and cloud capabilities will also be an important part of this segment along with companies which are in the automation/robotics/IoT space”.
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