September 24, 2024
RA Jainee
Mirae Asset Nifty PSU Bank 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 PSU Bank ETF Open Date, Close Date?
NFO opens on September 24, 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 PSU Bank 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 | 24 September 2024 |
| Issue Close | 30 September 2024 |
| 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 PSU Bank TRI |
What is the Benchmark Index of Mirae Asset Nifty PSU Bank ETF?
The Nifty PSU Bank Index captures the performance of the PSU Banks. All Public Sector Banks that are traded (listed & traded and not listed but permitted to trade) at the National Stock Exchange (NSE) are eligible for inclusion in the index subject to fulfilment of other inclusion criteria namely listing history and trading frequency.
Nifty PSU Bank 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 PSU 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 PSU Bank Total Returns Index.
Past Performance of Benchmark Index
| Index Returns (%) | QTD | YTD | 1 Year | 5 Years | Since Inception |
| Price Return | -5.16 | 22.27 | 56.38 | 23.07 | 9.86 |
| Total Return | -5.16 | 23.15 | 57.51 | 24.08 | 11.48 |
| Statistics ## | 1 Year | 5 Years | Since Inception |
| Std. Deviation * | 30.30 | 33.89 | 35.01 |
| Beta (NIFTY 50) | 1.62 | 1.16 | 1.16 |
| Correlation (NIFTY 50) | 0.71 | 0.66 | 0.72 |
Fundamentals
| P/E | P/B | Dividend Yield |
| 8.53 | 1.36 | 2.11 |
Top constituents by weightage
| Company’s Name | Weight(%) |
| State Bank of India | 33.56 |
| Bank of Baroda | 15.71 |
| Canara Bank | 12.63 |
| Punjab National Bank | 11.94 |
| Union Bank of India | 7.99 |
| Indian Bank | 6.85 |
| Bank of India | 4.99 |
| Bank of Maharashtra | 2.14 |
| Indian Overseas Bank | 1.58 |
| Central Bank of India | 1.28 |
Performance Review of the Fund Managers of Mirae Asset Nifty PSU Bank 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 PSU Bank 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 PSU Bank Exchange Traded Fund NFO?
Guidance for Mirae Asset Nifty PSU Bank ETF by Paresh Gordhandas, C.A., Research Analyst.
In India, banks have a high potential as there is still a huge untapped market in the rural hinterlands which have not yet been included in the formal banking space.
However, the PSU Bank sector is not one that is showing much potential for exponential growth in the coming years. While some banks in this space will outperform, there are others which would show a very slow uptrend or may drift sideways. Compared to the public sector banks, private sector banks are expected to outperform.
A look at the past performance of the underlying Index suggests good returns. But the same need to compared with other sectors as well as the banking sector in its entirety i.e public+private banks to get a better idea.
At the moment, this fund can be avoided.
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