Zerodha Fund House has launched two new fund offers (NFOs), Zerodha Nifty 100 ETF and Zerodha Nifty Midcap 150 ETF, which are open-ended equity exchange-traded funds (ETFs).
The NFOs, managed by fund manager Kedarnath Mirajkar, closes on June 7, 2024.
The Zerodha Nifty 100 ETF replicates the performance of the Nifty 100 Total Returns Index (TRI), while Zerodha Nifty Midcap 150 ETF replicates the performance of the Nifty 150 Midcap TRI.
Vishal Jain, CEO of Zerodha Fund House, said, “The two new ETFs offer investors an opportunity to get exposure in the key segments that broadly represent the Indian economy, and may capitalise on the India growth story.”
According to the statement, the Nifty 100 ETF allows investors to access the top 100 companies, based on full market capitalisation, that are part of the Nifty 500 universe and are considered leaders in their respective sectors. The ETF covers 69 per cent of the free-float market capitalisation.
The Nifty Midcap 150 ETF gives investors access to a diversified portfolio of emerging companies. It covers 15 per cent of the free-float market capitalisation.