Shriram AMC’s ETF (Growth) fund to open on July 1

CHENNAI: Shriram Asset Management Company (Shriram AMC) announced the launch of Shriram Nifty 1D Rate Liquid ETF (Growth), an open-ended exchange traded fund tracking the Nifty 1D Rate Index.

The new fund offer will be open for subscriptions from July 1, 2024 till July 3, 2024. Kartik Jain, MD-CEO, Shriram AMC, said, “With the introduction of the Shriram Nifty 1D Rate Liquid ETF (Growth), we offer an effective cash management vehicle that combines the advantages of better returns, higher liquidity and relatively lower risk. This ETF is ideal for investors wishing to increase their returns on idle capital while reducing risk by investing in stable and secure overnight products. Active traders will get the added benefit of margin pledge.”