Page 15 - Banking Finance September 2024

MUTUAL FUND

trum of India's consumption-driven sec- followed by 26.95% in debt, 8.85% in ing these movements, shedding light
tors, including FMCG, Auto, Telecom- hybrid and 4.44% in others. across categories attracting most in-
munication, Healthcare, Realty, and "The rise of AUM in India's asset man- terest from investors," said Pratik
more, according to a press release by agement industry reflects the Oswal, Chief of Business Passive Funds,
the fund house. country's dynamic and rapidly evolving Motilal Oswal Asset Management
financial landscape. As more investors Company.
Mutual Funds cross Rs 10 enter the market, the industry is poised

lakh crore AUM for sustained growth. For asset man- PGIM India Mutual Fund
agers, the challenge will be to innovate
India's asset management industry has and adapt to the changing needs of launches multi cap fund
witnessed a remarkable growth of investors, ensuring that they remain PGIM India Mutual Fund has launched
over 7x in the last 10 years, with its relevant in a competitive market. the PGIM India Multi Cap Fund, an
assets under management (AUM) open-ended equity scheme investing
climbing to Rs 61.2 lakh crore in June They need to stay agile, informed, and across large, mid, and small-cap stocks.
2024, from Rs 8.3 lakh crore as on ready to embrace the opportunities The new fund offer (NFO) is open for
December 2013, according to 'Where and challenges that lie ahead," said subscription and will close on Septem-
the money flows' study by Motilal Prateek Agrawal, MD and CEO, ber 5.
Oswal Asset Management Company. Motilal Oswal Asset Management
Company. "Given near-term volatility in the eq-
The study reveals that passive funds
AUM has grown to Rs 10.2 lakh crore "The financial markets are constantly uity markets, a typical question we
with 17% of total market share. The evolving, and staying informed about face is "What do you think about the
AUM of active funds stands at Rs 50.9 where the money is flowing is essen- markets?" That's a difficult one to an-
lakh crore as of June 2024. tial for making sound investment swer and anybody's guess. However,
choices. The latest "Where the Money the second follow-up question one gets
The equities take away the majority of Flows" report from June 2024 offers a is "Where do you think we should in-
the share with 59.75% of total AUM,
deep dive into the current trends driv- vest for the current market condi-
tions?" While this is best answered for
Groww EV ETF garners Rs 130 crore from 1.7 lakh in- each individual's specific situation and
goals by a trusted advisor, a simple
vestors
step could be to take exposure to all
The new fund offer or NFO of Groww Nifty EV & New Age Automotive ETF market capitalizations in a disciplined
and Groww Nifty EV & New Age Automotive ETF FOF have collected over format. A multicap strategy provides
Rs 130 crore. The funds have registered the collection from over 1.7 lakh
investors with a disciplined approach
investors. to diversify their exposure towards all
The new fund offer or NFO of Groww Nifty EV & New Age Automotive ETF market caps," said Ajit Menon, CEO,
was open for subscription from July 22 to August 2. The NFO of Groww Nifty PGIM India Asset Management.
EV & New Age Automotive ETF FOF was open from July 24 to August 7.
The scheme will invest a minimum of
Over 1.7 lakh investors invested 130 crore in Groww Nifty EV & New Age 25% each in large, mid, and small-cap
Automotive ETF and FOF in 15 days. The ETF, which opened for trading on stocks. The remaining 0-25% will be
August 12, offers investors a unique opportunity to participate in India's allocated to opportunities across
growing electric vehicle and new-age automotive sector growth.
any or all of these market cap seg-
The Groww Nifty EV & New Age Automotive ETF tracks the Nifty EV & New ments. Additionally, the scheme can
Age Automotive Index, which comprises leading companies involved in elec- invest up to 25% in debt, up to 10% in
tric vehicles, hybrid vehicles, and related components. By investing in this REITs and InvITs, and up to 20% in for-
ETF, investors gain exposure to a diversified basket of companies driving the eign securities, including overseas
future of mobility in India. This diversification can help mitigate risks associ- ETFs, according to the fund house's
ated with investing in individual stocks.
press release.

14 | 2024 | SEPTEMBER | BANKING FINANCE