June 18, 2024
mayank
Mirae Asset Nifty EV and New Age Automotive ETF details, Fund Portfolio, Fund Returns, Peer Comparison, Mutual Fund Guidance @chanakyamfguidance
Table of Contents:
- NFO Open date, Close date
- NFO Investment Strategy
- NFO Basic Details
- NFO Benchmark Index
- Past Performance of NFO Benchmark Index
- Performance Review of Fund Manager
- Should You Invest in this NFO?
- Invest Online
What is the Mirae Asset Nifty EV and New Age Automotive ETF Open Date, Close Date?
NFO opens on June 24, 2024
NFO will close on July 05, 2024
What is the Investment Strategy?
The scheme seeks to generate returns, before expenses, that are commensurate with the performance of the Nifty EV and New Age Automotive Total Return Index, subject to tracking error. The Scheme does not guarantee or assure any returns.
Basic Details
| Fund House | Mirae Asset Mutual Fund |
| Issue Open | 24 June 2024 |
| Issue Close | 05 July 2024 |
| Type | Open-ended |
| Category | Equity: Thematic |
| Min. Investment(Rs) | 5,000 |
| Plans | Growth |
| Lock-in Period | NA |
| Exit Load | 0 |
| Riskometer | Very High |
| Benchmark | Nifty EV and New Age Automotive TRI |
What is the Benchmark Index of Mirae Asset Nifty EV and New Age Automotive ETF?
The Nifty EV & New Age Automotive Index aims to track the performance of the companies which are active in electric vehicles or new age automotive vehicles (such as hybrid vehicles, hydrogen fuel based vehicles and green hybrid vehicles) segment. This particularly includes manufacturers of electric vehicles, new age automotive vehicles, electric batteries; electric vehicles or electric battery component producers, companies produce or supply raw materials that are relevant to the electric vehicle and autonomous vehicle technology segment, companies that build autonomous vehicles, and suppliers of autonomous vehicle technologies.
Nifty EV & New Age Automotive Index can be used for a variety of purposes such as benchmarking fund portfolios, launching of index funds, ETFs and structured products.
Index Variant: Nifty EV & New Age Automotive Total Returns Index.
Past Performance of Benchmark Index
| Index Returns (%) | QTD | YTD | 1 Year | 5 Years | Since Inception |
| Price Return | 9.08 | 19.50 | 51.68 | 29.47 | 19.19 |
| Total Return | 9.11 | 19.62 | 52.78 | 30.73 | 20.33 |
| Statistics ## | 1 Year | 5 Years | Since Inception |
| Std. Deviation * | 12.19 | 20.38 | 19.70 |
| Beta (NIFTY 50) | 0.82 | 0.90 | 0.90 |
| Correlation (NIFTY 50) | 0.68 | 0.83 | 0.82 |
Fundamentals
| P/E | P/B | Dividend Yield |
| 33.04 | 6.3 | 0.7 |
Top constituents by weightage
| Company’s Name | Weight(%) |
| Mahindra & Mahindra Ltd | 9.69 |
| Bajaj Auto Ltd. | 7.21 |
| Maruti Suzuki India Ltd. | 7.21 |
| Tata Motors Ltd. | 6.86 |
| Exide Industries Ltd | 5.42 |
| Samvardhana Motherson International Ltd | 4.69 |
| CG Power and Industrial Solutions Ltd. | 4.27 |
| Schaeffler India Ltd. | 4.25 |
| Amara Raja Energy & Mobility Ltd. | 3.84 |
| UNO Minda Ltd | 3.73 |
Performance Review of the Fund Managers of Mirae Asset Nifty EV and New Age Automotive ETF?
1) Ekta Gala
Education: Ms. Gala is a B.Com & Inter CA (IPCC)
Experience: Prior to joining Mirae Asset Mutual Fund, she has worked with ICICI Prudential Asset Management Company Ltd.
Past Performance of his Schemes
| Fund | Mirae Asset Nifty 100 ESG Sector Leaders ETF | It’s Benchmark | Mirae Asset Nifty 100 ESG Sector Leaders FoF | It’s Benchmark |
| 1 Year | 29.78 | 31.66 | 29.69 | 31.66 |
| 3 Year | 13.50 | 17.22 | 13.16 | 17.22 |
| 5 Year | — | — | — | — |
| 7 Year | — | — | — | — |
| 10 Year | — | — | — | — |
As on 18-6-2024
2) Akshay Udeshi
Education: Mr. Udeshi has done B.E (Electronics) and MBA (Finance)
Experience: Prior to joining Mirae Asset Mutual Fund, he was assocaited with Reliance Retail Ltd. and L&T Financial Services
Past Performance of his Schemes
| Fund | Mirae Asset Gold ETF | It’s Benchmark | Mirae Asset Nifty 100 ESG Sector Leaders ETF | It’s Benchmark |
| 1 Year | 20.24 | 19.00 | 29.78 | 31.66 |
| 3 Year | — | — | 13.50 | 17.22 |
| 5 Year | — | — | — | — |
| 7 Year | — | — | — | — |
| 10 Year | — | — | — | — |
As on 18-6-2024
Which Company Owns Mirae Asset Nifty EV and New Age Automotive ETF?
Mirae Asset Investment Managers (India) Pvt. Ltd.
Address: Unit No.606 – 6th Floor, Windsor Building – Off. CST Road, Kalina, Santacruz (East), Mumbai – 400098
Website: http://www.miraeassetmf.co.in
Registrar & Transfer Agent:
KFin Technologies Ltd.
Address: 303, Vamsee Estates, Opp. Big Bazaar, Ameerpet, Hyderabad – 500016
Website: https://mfs.kfintech.com/mfs/
Is it good to invest in Mirae Asset Nifty EV and New Age Automotive NFO?
Guidance for Mirae Asset Nifty EV and New Age Automotive ETF by Paresh Gordhandas, C.A., Research Analyst.
This is NFO is a niche within a niche. Let me explain. A fund investing in Automobile sector has a niche, called a sectoral fund. However, this fund will only be investing in companies which are active in electric vehicles or new age automotive vehicles (such as hybrid vehicles, hydrogen fuel based vehicles and green hybrid vehicles) segment. So a niche within a niche.
We all know that EVs are the thing of the future. But investing in companies engaged in this sector right now is giving us a potential advantage. Also, on the whole the automobile sector is expected to perform well over the next 1-3 years.
The Mirae Asset Nifty EV and New Age Automotive has a first mover advantage in its category. Should invest a small amount in this Fund.
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