January 12, 2022
admin
Mirae Asset Mutual Fund launches Nifty India Manufacturing ETF and FOF
Mirae Asset Mutual Fund has announced the launch of ‘Mirae Asset Nifty India Manufacturing ETF’, an open-ended scheme replicating Nifty India Manufacturing Total Return Index.
NFO opens on : 10th January, 2022
NFO closes on: 20th January, 2022
The fund house has also launched the ‘Mirae Asset Nifty India Manufacturing ETF FOF’, an open-ended fund of fund scheme predominantly investing in Mirae Asset Nifty India Manufacturing ETF.
ETF FOF NFO opens on : 10th January, 2022
ETF FOF NFO closes on: 24th January, 2022
Type:
An open-ended scheme replicating/tracking Nifty India Manufacturing Total Return Index
Benchmark :
Nifty India Manufacturing Index.
Investment Objective
The investment objective of the scheme is to generate returns, before expenses, that are commensurate with the performance of the Nifty India Manufacturing Total Return Index, subject to tracking error.
Investment Frame work
The Mirae Asset Nifty India Manufacturing ETF will be managed passively with investments in stocks in a proportion that match as close as possible to the weights of these stocks in Nifty India Manufacturing Index.
The investment strategy would revolve around reducing the tracking error to the least possible through regular rebalancing of the portfolio, considering the change in weights of stocks in the Index as well as the incremental collections/redemptions in the Scheme.
A part of the funds may be invested in debt and money market instruments, to meet the liquidity requirements.
MINIMUM INVESTMENT AMOUNT DURING NFO:
Rs. 5000/-and in multiples of Rs. 1/-thereafter
Listing :
NSE & BSE (Within 5 working days from the date of allotment)
Investment Horizon
Recommended Investment Horizon 3+ Years
FUND MANAGER for both the schemes:
Ms. Ekta Gala,
Chanakya’s Guidance:
Going forward, the Manufacturing segment has the potential to become the next growth driver for India, backed by strong government initiatives like Production Linked Incentive schemes and the Make in India push. Over the past few years, India-based manufacturing companies have been increasingly incorporating digital and Industry 4.0 into their processes becoming more efficient, productive and competitive, with improvements in quality as well. This could potentially open up a larger domestic market for them as well as provide increased export opportunities, and that augurs well for the sector.Accordingly this NFO has potential to bring impressive returns to the investors.
Mutual fund investments are subject to market risks, read all scheme related documents carefully.
About the AMC: Mirae Asset Global Investments was founded in Asia and now has a presence in 15 countries, where we take a collaborative approach in managing a fully diversified investment platform.