Shriram AMC Launches LIQUIDSHRI ETF, Strengthening Growth Strategy

Shriram Asset Management Company (Shriram AMC), part of the Shriram Group, successfully listed its new fund, the Shriram NIFTY 1D Rate Liquid ETF (Growth), under the ticker symbol “LIQUIDSHRI.” This open-ended Exchange-Traded Fund (ETF) tracks the Nifty 1D Rate Index and aligns with Shriram AMC’s strategic mission, “SAMC 2.0,” to strengthen its position in the mutual fund industry.

The New Fund Offer (NFO) was open from July 1 to July 3, 2024, receiving a positive investor response. The fund aims to offer a stable, liquid, and easy cash management solution with low interest rates and credit risk. Investors can utilize their demat accounts to invest idle cash in this ETF, potentially earning higher returns compared to traditional savings accounts. The Growth plan of the fund provides compounded returns, with capital gains tax applicable only upon redemption.

SAMC 2.0 focuses on three pillars: Product, Performance, and Placement. LIQUIDSHRI enhances Shriram AMC’s product suite, offering a low-risk solution for parking surplus cash. The fund invests in the overnight money market, backed by government securities, ensuring a higher degree of safety. Its performance is tied to the repo rate, offering stable returns with less volatility. The distribution strategy aims to raise awareness among brokers, distributors, and customers about the benefits and accessibility of LIQUIDSHRI through demat accounts.

At the listing ceremony, Kartik Jain, MD & CEO of Shriram AMC, remarked, “The launch of the Shriram NIFTY 1D Rate Liquid ETF (Growth) with the ticker symbol LIQUIDSHRI is part of our SAMC 2.0 program, aimed at rejuvenating Shriram AMC. We leverage the Shriram brand’s trust to grow our asset management business while delivering relevant solutions to meet customer needs.”

Jain further emphasized their focus on offering differentiated solutions that provide safety and stability of returns, leveraging their Quantamental investment approach to deliver sustainable alpha in equity funds. Shriram AMC aims to expand its distribution network, making its products more accessible across different customer segments.

Mr S. Ravindran, Director of NSE and former Executive Director of SEBI attended the NSE listing ceremony, along with Mr Umesh Revankar, Board of Management Member of Shriram Ownership Trust, and Mr R Thiagarajan, Chairman of the board of Trustees of Shriram Mutual Fund.