September 24, 2024
RA Jainee
Mirae Asset Nifty Metal 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 Metal ETF Open Date, Close Date?
NFO opens on September 20, 2024
NFO will close on September 30, 2024
What is the Investment Strategy?
The scheme seeks to generate returns, before expenses, that are commensurate with the performance of the Nifty Metal 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 | 20 September 2024 |
| Issue Close | 30 September 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 Metal TRI |
What is the Benchmark Index of Mirae Asset Nifty Metal ETF?
The Nifty Metal Index is designed to reflect the behaviour and performance of the Metals sector (including mining). The Nifty Metal Index comprises of maximum 15 stocks that are listed on the National Stock Exchange (NSE).
Nifty Metal Index is computed using free float market capitalization method, wherein the level of the index reflects the total free float market value of all the stocks in the index relative to particular base market capitalization value.
Nifty Metal 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 Metal Total Returns Index.
Past Performance of Benchmark Index
| Index Returns (%) | QTD | YTD | 1 Year | 5 Years | Since Inception |
| Price Return | -4.17 | 17.89 | 41.23 | 32.65 | 11.45 |
| Total Return | -3.87 | 18.34 | 41.94 | 34.66 | 13.64 |
| Statistics ## | 1 Year | 5 Years | Since Inception |
| Std. Deviation * | 25.44 | 31.29 | 34.24 |
| Beta (NIFTY 50) | 1.50 | 1.18 | 1.24 |
| Correlation (NIFTY 50) | 0.78 | 0.72 | 0.78 |
Fundamentals
| P/E | P/B | Dividend Yield |
| 31.3 | 2.89 | 1.69 |
Top constituents by weightage
| Company’s Name | Weight(%) |
| Tata Steel Ltd. | 18.88 |
| Hindalco Industries Ltd. | 15.36 |
| JSW Steel Ltd. | 13.46 |
| Adani Enterprises Ltd. | 11.87 |
| Vedanta Ltd. | 11.81 |
| Jindal Steel & Power Ltd. | 5.34 |
| APL Apollo Tubes Ltd. | 3.89 |
| Jindal Stainless Ltd. | 3.82 |
| NMDC Ltd. | 3.82 |
| Steel Authority of India Ltd. | 2.90 |
Performance Review of the Fund Managers of Mirae Asset Nifty Metal 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 | 35.42 | 37.83 | 34.88 | 37.83 |
| 3 Year | 13.11 | 16.45 | 12.85 | 16.45 |
| 5 Year | — | — | — | — |
| 7 Year | — | — | — | — |
| 10 Year | — | — | — | — |
As on 24-9-2024
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 | 24.73 | 24.70 | 35.42 | 37.83 |
| 3 Year | — | — | 13.11 | 16.45 |
| 5 Year | — | — | — | — |
| 7 Year | — | — | — | — |
| 10 Year | — | — | — | — |
As on 24-9-2024
Which Company Owns Mirae Asset Nifty Metal 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 Metal Exchange Traded Fund NFO?
Guidance for Mirae Asset Nifty Metal ETF by Paresh Gordhandas, C.A., Research Analyst.
Thematic funds are cyclical in nature and metal stocks in particular have very long downtrend and uptrend cycles. Plus they are majorly influenced by the demand and supply in the world markets and the economies of the major countries across the world. Over and above that, government regulations in this industry are extremely stringent. On the positive side, entry barriers are high and one needs a humungous amount of capital to enter into this Industry.
In the current market scenario, metal sector is not having much investor fancy apart from a select few shares. Hence, investing in a fund dedicated to this sector does not make much sense.
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