September 29, 2023
RA Jainee
Mirae Asset Nifty 200 Alpha 30 ETF NFO, Fund details, Fund Portfolio, Fund Returns, Peer Comparison, Mutual Fund Guidance @chanakyamfguidance
NFO opens on October 09, 2023
NFO will close on October 18, 2023
(Our detailed Guidance is given at the bottom of the Page)
Investment Strategy of Mirae Asset Nifty 200 Alpha 30 ETF NFO
The scheme seeks to generate returns, before expenses, that are commensurate with the performance of the Nifty 200 Alpha 30 Total Return Index, subject to tracking error. There is no assurance or guarantee that the investment objective of the scheme would be achieved.
Basic Details
| Fund House | Mirae Asset Mutual Fund |
| Issue Open | 09 October 2023 |
| Issue Close | 18 October 2023 |
| Type | Open-ended |
| Category | Equity: Large Cap |
| Min. Investment(Rs) | 5,000 |
| Plans | Growth |
| Lock-in Period | NA |
| Exit Load | 0 |
| Riskometer | High |
| Benchmark | Nifty 200 Alpha 30 TRI |
Benchmark Index of Mirae Asset Nifty 200 Alpha 30 ETF NFO
The Nifty200 Alpha 30 index which consists of 30 stocks selected from its parent Nifty 200 based on ‘Jensen’s Alpha’. The weight of stocks in the index is based on their alpha scores. Stock weights are capped at the lower of 5% or 5 times the weight of the stock in the index based only on free float market capitalization.
The index can be used for a variety of purposes such as benchmarking, creation of index funds, ETFs and structured products.
Past Performance of Benchmark Index
| Index Returns (%) | QTD | YTD | 1 Year | 5 Years | Since Inception |
| Price Return | 6.68 | 23.71 | 26.31 | 15.62 | 16.44 |
| Total Return | 6.97 | 24.54 | 27.26 | 16.68 | 17.79 |
| Statistics ## | 1 Year | 5 Years | Since Inception |
| Std. Deviation * | 15.47 | 21.87 | 24.63 |
| Beta (NIFTY 50) | 1.01 | 0.97 | 0.99 |
| Correlation (NIFTY 50) | 0.72 | 0.86 | 0.87 |
Fundamentals
| P/E | P/B | Dividend Yield |
| 14.78 | 2.46 | 1.47 |
Top constituents by weightage
| Company’s Name | Weight(%) |
| IDFC First Bank Ltd | 5.46 |
| REC Ltd. | 5.16 |
| TVS Motor Company Ltd. | 5.01 |
| Bharat Heavy Electricals Ltd. | 4.93 |
| Power Finance Corporation Ltd. | 4.79 |
| ABB India Ltd. | 4.55 |
| Punjab National Bank | 4.54 |
| Indian Hotels Co. Ltd. | 4.53 |
| Hindustan Aeronautics Ltd. | 4.48 |
| Bank of Baroda | 4.46 |
Fund Manager of Mirae Asset Nifty 200 Alpha 30 ETF NFO
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 50 ETF | It’s Benchmark | Mirae Asset Nifty Next 50 ETF | It’s Benchmark |
| 1 Year | 17.08 | 17.19 | 6.95 | 17.19 |
| 3 Year | 22.62 | 23.39 | 20.09 | 23.39 |
| 5 Year | — | — | — | — |
| 7 Year | — | — | — | — |
| 10 Year | — | — | — | — |
2) Vishal Singh
Education: Mr. Singh has done B.Com, CA, CFA and FRM
Experience: Prior to joining Mirae Asset Mutual Fund, he was associated with NSE Indices Ltd. and Aranca (India) Private Ltd.
Past Performance of his Schemes
| Fund | Mirae Asset Nifty 50 ETF | It’s Benchmark | Mirae Asset S&P 500 Top 50 ETF FoF | It’s Benchmark |
| 1 Year | 17.08 | 17.19 | 25.17 | 18.61 |
| 3 Year | 22.62 | 23.39 | — | — |
| 5 Year | — | — | — | — |
| 7 Year | — | — | — | — |
| 10 Year | — | — | — | — |
AMC:
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: www.karvymfs.com
Guidance for Mirae Asset Nifty 200 Alpha 30 ETF NFO by Paresh Gordhandas, C.A., Research Analyst.
For a common investor, the long complicated name is the first deterrent. If we delve a little deeper, the benchmark for this fund is the Nifty200 Alpha 30 index which consists of 30 stocks selected from its parent Nifty 200 based on ‘Jensen’s Alpha’. Now, I doubt how many investors would know about Jensen’s Alpha.
The Jensen’s alpha, is a risk-adjusted performance measure that represents the average return on a portfolio or investment, above or below that predicted by the capital asset pricing model (CAPM), given the portfolio’s or investment’s beta and the average market return.
If you look at the returns generated by the Benchmark Index, they are good. However, there is no assurance that the ETF will also generate same level of returns. The top constituents by weightage in the benchmark index are IDFC First Bank, REC, TVS Motors, BHEL, PFC etc.
On the whole, the fund does not look very attractive.
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