Shriram AMC launches Shriram Nifty 1D Rate Liquid ETF (Growth), opens for subscription on July 1

Sriram: 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.

Shriram Nifty 1D Rate Liquid ETF (Growth) New Fund Offer will be open for subscription from July 1, 2024 to July 3, 2024. Investors can apply through their securities brokers or by submitting the physical form at their nearest CAMS Investor Service Centre.

Shriram Nifty 1D Rate Liquid ETF (Growth) offers investors easy cash management with high liquidity, relatively low interest rate risk and relatively low credit risk. They can get higher returns by investing in these ETFs through their demat accounts instead of putting their idle cash in their savings accounts. A growth plan offers compounded returns without the need to track daily partial dividends, capital gains tax is applicable only on redemption. Returns can be easily tracked through the Growth NAV published daily at www.shriramamc.in/SNifty1dETF.

The fund has low interest rate volatility as it invests only in overnight money market, liquid instruments backed by government securities have low risk due to only one-day exposure. With liquidity and stable returns, Shriram Nifty 1D Rate Liquid ETF (Growth) will also be eligible as collateral for margin trading to provide further convenience to active equity investors.

Kartik Jain, MD & CEO, Shriram AMC said, “At Shriram AMC, we constantly strive to innovate and provide investment products that meet the changing demands of today's customers. With the launch of Shriram Nifty 1D Rate Liquid ETF (Growth), we have offered an effective cash management vehicle that combines the benefits of superior returns, greater liquidity and relatively lower risk.

This ETF is ideal for investors who want to enhance their returns on idle capital while minimising risk by investing in stable and safe overnight products. Active traders will get the added benefit of margin pledge. Given the growing desire for flexible and safe investment solutions in the current financial scenario, we believe this fund will play a vital role in helping clients meet their financial objectives.”