Tata Launches India’s First Tourism Index Fund

Tata Asset Management Company has launched the Tata Nifty India Tourism Index Fund, the nation’s first tourism index fund. It will comprise a collection of companies that are part of the Nifty 500 and track the Nifty India Tourism Index.

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By Mrinal
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Tata tracks tourism sector with new index fund

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Tata Asset Management Company has announced the launch of the Tata Nifty India Tourism Index Fund, the nation’s first tourism index fund. It will comprise a collection of companies that are part of the Nifty 500 and will track the Nifty India Tourism Index. The index fund has been designed to hold a database of India’s fastest-growing businesses in the travel, tourism, and hospitality sector.

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The index fund will track travel, tourism, and hospitality businesses

With Indians spending ₹12,500 crore per month on travel in 2023-24, the Tata Nifty India Tourism Index Fund is poised to capitalize on this trend and boost an already thriving sector. The fund offers a range of features, including investment windows, sector coverages, risk management, investment strategy, and performance objectives. Investors can start with a minimum investment of ₹5000 during the NFO period, with subsequent investments in multiples of ₹1. The fund also offers no entry load, but an exit load of 0.25% of NAV applies if redeemed within 15 days from the allotment date.

TAM States

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Anand Vardarajan, CBO, Tata Asset Management

Talking at the launch event of Tata Nifty India Tourism Index Fund, Anand Vardarajan, CBO, Tata Asset Management, said, “High 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. All types of travel, be it pilgrimage, business, medical or leisure are registering a surge. 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.”

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