UTI Mutual Fund has launched the UTI Nifty India New Age Consumption Index Fund, an open-ended passive equity scheme that seeks to replicate the performance of the Nifty India New Age Consumption Total Return Index (TRI), subject to tracking error.
The new fund offer (NFO) opened on October 22 and will close on November 5, 2026.
The scheme aims to provide exposure to companies representing emerging consumption trends through a rules-based investment approach.
The underlying index comprises 75 stocks from the Nifty 500 universe, with individual stock weights determined by free-float market capitalisation. Its coverage includes passenger cars and utility vehicles, two-wheelers and three-wheelers, gems and jewellery, watches, hotels and resorts, and financial technology (fintech).
Fund details and investment options
The minimum initial investment during the NFO is ₹1,000, with additional investments in multiples of ₹1. The scheme offers both Direct and Regular plans, with only the Growth option available.
Sharwan Kumar Goyal will manage the fund, with Ayush Jain and Lokesh Kulthia as assistant fund managers. The benchmark is the Nifty India New Age Consumption TRI.
The scheme has no entry load and no exit load, according to the fund house.
Investment strategy
The fund follows a passive investment strategy, seeking to mirror the composition and performance of its benchmark index rather than selecting stocks through active stock-picking. Returns may differ from those of the index because of tracking error, and the fund house has stated that achievement of the investment objective is not assured.
The underlying index is designed to capture companies linked to changing consumption patterns in India, including spending on vehicles, jewellery, hospitality and technology-led financial services.
The Nifty India New Age Consumption Index captures India’s evolving consumption landscape, spanning industries such as e-commerce, quick commerce, passenger vehicles, two- and three-wheelers, gems and jewellery, hotels and resorts, and financial technology. The index currently comprises 75 stocks weighted by free-float market capitalisation and offers diversified exposure to businesses representing emerging consumption trends through a transparent and systematic portfolio-construction approach. Policy measures such as income-tax relief and GST rationalisation could provide further impetus to consumption revival and support a recovery in consumption-led growth.SHARWAN GOYAL, HEAD – PASSIVE, ARBITRAGE AND QUANT STRATEGIES AND FUND MANAGER (EQUITY) AT UTI AMC
He also cited income-tax relief and GST rationalisation as policy measures that could support consumption demand and a recovery in consumption-led growth.
As a sector- and theme-focused fund, its performance will depend on the underlying companies and the broader consumption theme. Investors should also consider the concentration and market risks associated with thematic equity exposure before investing.
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Disclaimer: This article is for informational purposes only and should not be construed as investment advice. Readers should consult certified experts before making any investment decisions.