January 19, 2024
RA Jainee
Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF FoF 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 Smallcap 250 Momentum Quality 100 ETF FoF Open Date, Close Date?
NFO opens on February 15, 2024
NFO will close on February 28, 2024
What is Fund Investment Strategy?
The scheme seeks to provide long-term capital appreciation from a portfolio investing in units of Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF. There is no assurance that the investment objective of the Scheme will be realized.
Basic Details
| Fund House | Mirae Asset Mutual Fund |
| Issue Open | 15 February 2024 |
| Issue Close | 28 February 2024 |
| Type | Open-ended |
| Category | Equity: Thematic |
| Min. Investment(Rs) | 5,000 |
| Plans | Growth, IDCW |
| Lock-in Period | NA |
| Exit Load | 0.5% for redemption Within 3 months |
| Riskometer | Very High |
| Benchmark | Nifty Smallcap 250 Momentum Quality 100 TRI |
What is the Benchmark Index?
Nifty Smallcap250 Momentum Quality 100 index aims to track the performance of the 100 small cap stocks selected based on combination of their momentum and quality factor scores. The momentum score for each company is determined based on its 6 month and 12-month price return, adjusted for volatility. The quality score for each company is determined based on return on equity (ROE), financial leverage (Debt/Equity Ratio) and earnings (EPS) growth variability analyzed during the previous 5 years. The weight of each stock in the index is based on the combination of composite momentum-quality score and its free-float market capitalization. Stock weights are capped at 3% at the time of index rebalancing.
Nifty Smallcap250 Momentum Quality 100 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 Smallcap250 Momentum Quality 100 Total Returns Index.
Portfolio Characteristics
| Methodology | Tilt Weighted |
| No. of Constituents | 100 |
| Launch Date | December 21, 2023 |
| Base Date | April 01, 2005 |
| Base Value | 1000 |
| Calculation Frequency | End of day |
| Index Rebalancing | Semi – Annually |
Past Performance of Benchmark Index
| Index Returns (%) | QTD | YTD | 1 Year | 5 Years | Since Inception |
| Price Return | 14.45 | 49.01 | 49.01 | 23.99 | 21.97 |
| Total Return | 14.55 | 50.09 | 50.09 | 25.30 | 23.78 |
| Statistics ## | 1 Year | 5 Years | Since Inception |
| Std. Deviation * | 13.37 | 19.90 | 21.75 |
| Beta (NIFTY 50) | 0.78 | 0.81 | 0.78 |
| Correlation (NIFTY 50) | 0.57 | 0.77 | 0.77 |
Fundamentals
| P/E | P/B | Dividend Yield |
| 26.38 | 4.17 | 1.02 |
Top constituents by weightage
| Company’s Name | Weight(%) |
| Cyient Ltd. | 3.18 |
| KEI Industries Ltd. | 3.14 |
| Multi Commodity Exchange of India Ltd. | 2.89 |
| Birlasoft Ltd. | 2.86 |
| Sonata Software Ltd. | 2.81 |
| BSE Ltd. | 2.78 |
| Central Depository Services (India) Ltd. | 2.75 |
| Apar Industries Ltd. | 2.61 |
| Karur Vysya Bank Ltd. | 2.04 |
| Glenmark Pharmaceuticals Ltd. | 1.97 |
Performance Review of the Fund Managers of Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF FoF?
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 50 ETF | It’s Benchmark |
| 1 Year | 16.55 | 22.03 | 19.37 | 22.03 |
| 3 Year | 12.99 | 17.04 | 15.83 | 17.04 |
| 5 Year | — | — | 15.72 | 16.25 |
| 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 | It’s Benchmark |
| 1 Year | 9.38 | 8.35 | 30.97 | 26.29 |
| 3 Year | — | — | — | — |
| 5 Year | — | — | — | — |
| 7 Year | — | — | — | — |
| 10 Year | — | — | — | — |
Which Company Owns Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF FoF?
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: http://www.karvymfs.com
Is it good to invest in Mirae Asset Nifty Smallcap250 Momentum Quality 100 ETF FoF NFO?
Guidance for Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF FoF by Paresh Gordhandas, C.A., Research Analyst.
Generally, investing in a small cap fund is limited to a small portion of one’s investment portfolio. A ‘Fund Of Funds’ (FOF) is an investment strategy of holding a portfolio of other investment funds rather than investing directly in stocks, bonds or other securities. An FOF Scheme of a primarily invests in the units of another Mutual Fund scheme.
The FoF will be managed by two Fund Managers – Ekta Gala and Vishal Singh. Top constituents of the Benchmark include companies like KEI, Cyient, Birlasoft, Sonata Software etc.
Mirae Asset Funds generally have a good track record of generating returns. A small amount can be invested in this NFO.
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