3 weeks ago
99
Tata Asset Management Company announced the introduction of six index funds which are designed to provide investors with exposure to key sectors with growth potential.
These include Tata Nifty 500 Multicap 50:30:20 Infrastructure Index Fund, Tata Nifty MidSmall Healthcare Index Fund, Tata Nifty Realty Index Fund, Tata Nifty Financial Services Index Fund, Tata Nifty Auto Index Fund and Tata Nifty 500 Multicap India Manufacturing Index Fund.
Anand Vardarajan, Business Head, Tata Asset Management said, “There is a saying ‘stake to where the puck is going not where it has been’. It is instructive for an investor to then see where money is being spent today. More often than not, where the rich spend today, the middle class may spend tomorrow. In that context we have come up with six index funds which could participate in the overall India growth story.”
“The decision to introduce these index funds is backed by rising income levels and compelling consumer trends. All index funds adhere to a meticulous methodology to ensure optimal performance and representation of the respective sectors,” he added.
He said the construction of the indices involve careful selection criteria, including market capitalisation, sectoral representation and periodic reviews.
