October 6, 2023
RA Jainee
Mirae Asset Nifty IT ETF NFO, Fund details, Fund Portfolio, Fund Returns, Peer Comparison, Mutual Fund Guidance @chanakyamfguidance
NFO opens on October 13, 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 IT ETF NFO
The scheme seeks to generate returns, before expenses, that are commensurate with the performance of the Nifty IT Total Return Index, subject to tracking error.
Basic Details
| Fund House | Mirae Asset Mutual Fund |
| Issue Open | 13 October 2023 |
| Issue Close | 18 October 2023 |
| Type | Open-ended |
| Category | Equity: Sectoral-Technology |
| Min. Investment(Rs) | 5,000 |
| Plans | Growth |
| Lock-in Period | NA |
| Exit Load | 0 |
| Riskometer | Very High |
| Benchmark | NIFTY IT TRI |
Benchmark Index of Mirae Asset Nifty IT ETF NFO
The Nifty IT index captures the performance of the Indian IT companies. The Nifty IT Index comprises of 10 companies listed on the National Stock Exchange (NSE).
Nifty IT Index is computed using free float market capitalization method with a base date of Jan 1, 1996 indexed to a base value of 1000 wherein the level of the index reflects total free float market value of all the stocks in the index relative to a particular base market capitalization value. The base value of the index was revised from 1000 to 100 with effect from May 28, 2004.
Nifty IT 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 IT Total Returns Index.
Past Performance of Benchmark Index
| Index Returns (%) | QTD | YTD | 1 Year | 5 Years | Since Inception |
| Price Return | 7.51 | 11.05 | 17.80 | 14.95 | 23.06 |
| Total Return | 7.78 | 12.29 | 19.87 | 17.20 |
| Statistics ## | 1 Year | 5 Years | Since Inception |
| Std. Deviation * | 18.01 | 23.38 | 33.73 |
| Beta (NIFTY 50) | 1.13 | 0.81 | 0.97 |
| Correlation (NIFTY 50) | 0.64 | 0.67 | 0.66 |
Fundamentals
| P/E | P/B | Dividend Yield |
| 26.74 | 6.93 | 2.51 |
Top constituents by weightage
| Company’s Name | Weight(%) |
| Infosys Ltd. | 27.07 |
| Tata Consultancy Services Ltd. | 25.83 |
| HCL Technologies Ltd. | 9.34 |
| Tech Mahindra Ltd. | 9.09 |
| Wipro Ltd. | 8.30 |
| LTIMindtree Ltd. | 6.93 |
| Coforge Ltd | 4.49 |
| Persistent Systems Ltd. | 4.27 |
| MphasiS Ltd. | 2.86 |
| L&T Technology Services Ltd. | 1.82 |
Fund Manager of Mirae Asset Nifty IT 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 | 14.28 | 14.46 | 5.72 | 14.46 |
| 3 Year | 20.69 | 21.49 | 18.52 | 21.49 |
| 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 Financial Services ETF | It’s Benchmark | Mirae Asset Nifty India Manufacturing ETF FoF | It’s Benchmark |
| 1 Year | 11.90 | 12.29 | 16.45 | 15.75 |
| 3 Year | — | — | — | — |
| 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 of Mirae Asset Nifty IT ETF NFO
KFin Technologies Ltd.
Address: 303, Vamsee Estates, Opp. Big Bazaar, Ameerpet, Hyderabad – 500016
Website: www.karvymfs.com
Guidance for Mirae Asset Nifty IT ETF NFO by Paresh Gordhandas, C.A., Research Analyst.
The Mirae Asset Nifty IT ETF NFO is a sector specific fund. The fund will focus on companies in the IT business. Namely, top companies like Infosys, TCS, Tech Mahindra as well as second tier IT companies with good growth potential.
Indian IT companies are expected to declare a somewhat weak set of numbers in Q2FY24. However, the long term potential for these companies remain intact.
The role of the fund manager in case of an ETF is limited as they will be tracking the benchmark index, that is the Nifty IT Index. The Index comprises of only 10 companies.
One can invest in this ETF.
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