News for Nippon India ETF Nifty IT (NETFIT.NS)

Mirae Asset Mutual Fund announced the launch of the Mirae Asset Nifty IT ETF. The scheme opened for public subscription on October 13, 2023, and will close on October 18, 2023.

The shares of big IT firms like Infosys, TCS, and HCL technologies rose by around 1-3% in the first one-week of the month. The Nifty IT - TRI index has offered around 2.84% during the same period.

The two sectors have been a study in contrasts. While banking funds are on course to put up their best performance since 2017, IT funds are at risk of putting up their worst show since 2008.

Among the sectoral funds, IT has been the worst affected this year. While infra and banking funds are up about 11% and 21% respectively, pharma funds are down about 6% so far.

Passively-managed funds take returns centre stage Auto, FMCG and midcap funds occupy pole position

Year 2021 has given great returns to investors. While the index returns are always discussed and debated, the actual returns that you get will depend on the funds you are holding and the weightage to each fund. For reference, here… Read More All Equity Fund 2021 Returns

Many investors, especially the new ones, are flocking to invest in IT schemes because of the astounding returns given by these schemes in the recent past.

The minimum application amount for this fund is ₹500 and in the multiples of ₹100, thereafter, during the NFO period