June 28, 2023
mayank
Mirae Asset Nifty Bank ETF NFO Details & Guidance
NFO opens on July 12, 2023
NFO will close on July 18, 2023
(Our detailed Guidance is given at the bottom of the Page)
Mirae Asset Nifty Bank ETF NFO Investment Strategy
The scheme seeks to generate returns, before expenses, that are commensurate with the performance of the Nifty Bank 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 | 12 July 2023 |
| Issue Close | 18 July 2023 |
| Type | Open-ended |
| Category | Equity: Sectoral-Banking |
| Min. Investment(Rs) | 5,000 |
| Plans | Growth |
| Lock-in Period | NA |
| Exit Load | 0 |
| Riskometer | Very High |
| Benchmark | NIFTY Bank TRI |
Benchmark Index of Mirae Asset Nifty Bank ETF NFO
The Nifty Bank Index comprises of the most liquid and large Indian Banking stocks. It provides investors and market intermediaries a benchmark that captures the capital market performance of the Indian banks. The Index comprises of maximum 12 companies listed on National Stock Exchange of India (NSE).
Nifty Bank Index is computed using free float market capitalization method.
Nifty Bank 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 Bank Total Returns Index.
Past Performance of Benchmark Index
| Index Returns (%) | QTD | YTD | 1 Year | 5 Years | Since Inception |
| Price Return | 8.67 | 2.66 | 24.35 | 10.36 | 17.55 |
| Total Return | 9.22 | 3.17 | 25.37 | 10.87 | 19.12 |
| Statistics ## | 1 Year | 5 Years | Since Inception |
| Std. Deviation * | 15.81 | 26.36 | 29.28 |
| Beta (NIFTY 50) | 1.09 | 1.22 | 1.09 |
| Correlation (NIFTY 50) | 0.87 | 0.90 | 0.84 |
Fundamentals
| P/E | P/B | Dividend Yield |
| 16.46 | 2.86 | 0.78 |
Top constituents by weightage
| Company’s Name | Weight(%) |
| HDFC Bank Ltd. | 25.64 |
| ICICI Bank Ltd. | 23.93 |
| Kotak Mahindra Bank Ltd. | 10.69 |
| State Bank of India | 10.29 |
| Axis Bank Ltd. | 9.94 |
| IndusInd Bank Ltd. | 6.83 |
| AU Small Finance Bank Ltd. | 3.04 |
| Bank of Baroda | 2.81 |
| Federal Bank Ltd. | 2.16 |
| IDFC First Bank Ltd. | 1.82 |
Fund Manager of Mirae Asset Nifty Bank 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 | 20.07 | 21.16 | 17.43 | 21.16 |
| 3 Year | 23.30 | 24.01 | 18.72 | 24.01 |
| 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 Bank ETF NFO by Paresh Gordhandas, C.A., Research Analyst.
The Scheme seeks to provide returns by investing in Banking shares, by tracking the Nifty Bank Index. This index comprises only of 12 shares. The sector has very strong growth potential and accordingly this scheme can bring in good returns to its long-term investors.
Stock picking skill of the Fund managers is also another important aspect while selecting a scheme and past performance of the FMs may give hint to their stock-picking skills. In order to assess the past performance of the fund manager, we have randomly selected two schemes managed by them and the performance of these schemes is not quite impressive (as shown above).
However, looking to strong growth potential of the sector, you may ignore performance of the FM and may invest in this NFO.
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