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Bengaluru, July 08, 2024: Tata Asset Management Company, a pioneer in the mutual fund industry, has launched nation海角直播 first tourism index fund, comprising a collection of companies forming part of Nifty 500. The聽Tata Nifty India Tourism Index Fund聽will track the Nifty India Tourism Index (TRI, i.e., total returns index).
This open-ended index fund has been meticulously designed to provide investors with exposure to India海角直播 fastest growing companies from travel, tourism and hospitality businesses. The companies forming the index are leaders in their respective segments and have benefitted from the rising disposable income levels, evolving tastes of the Indian consumer and sustained higher discretionary spends.
At聽the launch of the index fund,聽Anand聽Vardarajan,聽Chief Business Officer聽at聽Tata聽Asset Management聽蝉补颈诲,听鈥淗igh disposable income, infrastructure developments like better highway connectivity, improved railway comfort & speed and so many new airports have made travel easy, swift and safe. We are witnessing exponential growth in domestic aviation, hotels, restaurants and travel which augurs very well for the tourism segment.聽 All types of travel, be it pilgrimage, business, medical or leisure are registering a surge.聽 This makes a compelling case for looking at tourism as a segment and how one could invest and aim to benefit from the growth of this sector.鈥
The launch of the Tata Nifty India Tourism Index Fund comes at a time when the Indian economy is showing remarkable resilience driven by robust investment and consumption. The growing middle class in India is fueling a surge in aspirational and experiential travel bolstered by significant investment in infrastructure, which have expanded air route capacities, making travel more accessible.
Additionally, technology advancements have revolutionized the travel and restaurant space, with the rise of online restaurant aggregators and a burgeoning delivery economy. Social media platforms further amplify the desire to travel, showcasing diverse destinations and experiences. 鈥淎s a result, India’s travel and tourism expenditure is projected to soar from $140 billion in 2019 to an impressive $406 billion by 2030 (Source: Euromonitor, Systematix Institutional Research),鈥澛added Mr Vardarajan.
Index Methodology:
The index methodology for the Tata Nifty India Tourism Index Fund that currently comprises of 17 stocks (as on 21st June 2024) adheres to stringent criteria to ensure optimal representation of all Tourism related segments, with a maximum stock level capping limit of 20% in the index. This index can house a maximum of 30 stocks from the parent index Nifty 500. With a focus on diversification and risk management, the index constituents are weighted basis free-float market capitalization.
Stock selection parameter:
| Industry | Index weights (as on 21st聽June 2024) |
| Hotels and resorts | 32% |
| Airlines | 19% |
| Restaurants | 19% |
| Tour, Travel Related Services | 16% |
| Airports and airport services | 10% |
| Luggage | 3% |
The launch of the index fund caters to the evolving need of our investors and provides access to promising segment poised for potential growth in the Indian economy.
The scheme will endeavor to minimize the tracking error by:
- Rebalancing of the portfolio
- Setting off incremental subscriptions against redemptions
- Fast track in expediting in deployment of cash
- Maintaining low levels of cash
Enclosed below are the details about the聽Tata Nifty India Tourism Index Fund:
| Scheme Name | Tata Nifty India Tourism Index Fund |
| NFO Period | 8th听闯耻濒测听2024听迟辞听19th聽July 2024 |
| Scheme re-opens on or before | 29th聽July 2024 |
| 滨苍惫别蝉迟尘别苍迟听翱产箩别肠迟颈惫别 | The investment objective of the scheme is to provide returns, before expenses, that commensurate with the performance of Nifty India Tourism Index (TRI), subject to tracking error. However, there is no assurance or guarantee that the investment objective of the scheme will be achieved. The scheme
does not assure or guarantee any returns |
| 罢测辫别听辞蹿听厂肠丑别尘别 | An open-ended scheme replicating / tracking Nifty India Tourism Index (TRI) |
| Fund Manager | Kapil Menon |
| Benchmark | Nifty India Tourism Index (TRI) |
| Min. Application Amount聽(During聽NFO) | 搁蝉听5,000/-听补苍诲听颈苍听尘耻濒迟颈辫濒别听辞蹿听搁别.1/-听迟丑别谤别补蹿迟别谤 |
| Load Structure | Entry Load:聽Not Applicable (Pursuant to provision no. 10.4.1.a of SEBI聽Master聽Circular聽on聽Mutual聽Fund聽dated聽May聽19,聽2023,聽no聽entry load聽will聽be聽charged聽by聽the聽Scheme聽to聽the聽investor)
贰虫颈迟听尝辞补诲:听0.25听%听辞蹿听迟丑别听补辫辫濒颈肠补产濒别听狈础痴,听颈蹿听谤别诲别别尘别诲听辞苍听辞谤听产别蹿辞谤别听15听诲补测蝉听蹿谤辞尘听迟丑别听诲补迟别听辞蹿听补濒濒辞迟尘别苍迟. 贰虫颈迟听濒辞补诲听(if聽any)聽charged聽to聽the聽unit聽holders聽by聽the聽Mutual聽Fund聽on redemption聽(including聽switch-out)聽of聽units聽shall聽be聽credited聽to聽the聽scheme聽net聽of聽Goods聽&聽Services聽Tax.聽Goods聽&聽Services聽Tax聽on聽exit load,聽if聽any,聽shall聽be聽paid聽out聽of聽the聽exit聽load聽proceeds.
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惭耻迟耻补濒听贵耻苍诲听颈苍惫别蝉迟尘别苍迟蝉听补谤别听蝉耻产箩别肠迟听迟辞听尘补谤办别迟听谤颈蝉办蝉,听谤别补诲听补濒濒听蝉肠丑别尘别听谤别濒补迟别诲听诲辞肠耻尘别苍迟蝉听肠补谤别蹿耻濒濒测.
