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Wealthtech startup Groww's asset management business Groww Mutual Fund launched two new fund offerings (NFO) - Groww Nifty EV & New Age Automotive ETF and Groww Nifty EV & New Age Automotive ETF FOF

The NFO of Groww Nifty EV & New Age Automotive ETF (exchange-traded fund) will be open till August 2, 2024, and that of Groww Nifty EV & New Age Automotive ETF FOF (fund of funds) will be open till August 7, 2024.

The development comes on the heels of the National Stock Exchange (NSE) launching a new thematic index - Nifty EV & New Age Automotive index - in May this year.

The exchange announced the launch of the index to track the performance of companies that are a part of the EV ecosystem or involved in developing new-age automotive vehicles or related technology.

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