I want to start SIP based investment in Index fund , but want to exclude few segments like banking, alcohol, etc
Can I customize any Index fund in such manner?
No, you can’t customize an index fund.
Rather you will have to look for a fund which do not have such stocks (Shariah compliant index based funds) OR build a smallcase for your own (which will be very tedious and expensive to maintain)
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Nippon India has Shariah BeeS ETF which includes index heavy weights except banking and alcohol.
Check this out.
https://www.moneycontrol.com/mutual-funds/nav/nippon-india-etf-shariah-bees/MBM025
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how many alcohol companies are there in the Index fund?
Depends on which index you are looking at
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