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Source-This post on Nifty Non-Cyclical Consumer Index Fund is based on the article “Groww Mutual Fund launches Nifty Non-Cyclical Consumer Index Fund” published in “The Economic Times” on 7th May 2024.
Why in the News?
Groww Mutual Fund has recently introduced India’s First Nifty Non-Cyclical Consumer Index Fund.
About Nifty Non-Cyclical Consumer Index Fund
| Aspects | Description |
| About | 1) It is a mutual fund designed to foster long-term capital growth through investments in the securities of the Nifty Non-Cyclical Consumer Index (TRI). 2) It is India’s first index fund which enables people to invest in the top stocks from consumer industries such as FMCG, Textiles, etc. |
| Launched by | Groww Mutual Fund |
| Aim of the fund | The aim of the fund is to achieve long-term capital growth by investing in the securities of the Nifty Non-Cyclical Consumer Index (TRI) in their respective proportions and weightings. |
| Purpose of the fund | This index comprises 30 companies that exhibit resilience to economic fluctuations and maintain steady demand. |
| Characteristics | 1) Non-cyclical stocks are also known as defensive stocks. 2) It tends to perform well in the stock market even during economic instability. 3) These stocks maintain constant demand and are not influenced by cyclical fluctuations because they provide everyday essentials such as food, water, and utilities. |
UPSC Syllabus: Indian economy
