Mirae Asset Mutual Fund jas announced the launch of ‘Mirae Asset Nifty India Manufacturing ETF’, an open-ended scheme replicating/tracking Nifty India Manufacturing Total Return Index and the ‘Mirae Asset Nifty India Manufacturing ETF FOF’, an open-ended fund of fund scheme predominantly investing in Mirae Asset Nifty India Manufacturing ETF.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

NFO: Open/close dates

-The NFO for both the funds will open for subscription on January 10, 2022. 

- While the Mirae Asset Nifty India Manufacturing ETF will close on January 20, 2022,  the Mirae Asset Nifty India Manufacturing ETF FOF will close on January  24, 2022. 

Schemes' Manager

- Both the schemes will be managed by Ekta Gala.

Minimum initial investment

The minimum initial investment in both the schemes will be Rs 5,000 and multiples of Re 1 thereafter.

Key Highlights, as per the official statement by Mirae Asset MF

-Allows investors the opportunity to participate in potential emerging segments like Electric Vehicles, Electronics, Battery Tech, Defence etc.

-The Nifty India Manufacturing Index aims to track the performance of stocks that represent manufacturing sectors in India

-Nifty India Manufacturing Index has outperformed Nifty 500 Index during period of economy recovery & make in India push ^

-Nifty India Manufacturing Index has outperformed NIFTY 50 Index, in last 6 out of 8 calendar years (including 2021 YTD) ^

-Portfolio covers majority of sectors where government aims to provide around Rs 2Tn incentive for capacity expansion which may contribute to significant growth.

Commenting on the launch, Swarup Mohanty, Director & CEO, Mirae Asset Investment Managers (India) Pvt. Ltd., said, “While services and consumption have been focus areas for investors, manufacturing has seemingly been underrated despite a strong performance over the last few years. Going forward, the Manufacturing segment has the potential to become the next growth driver forIndia, backed by strong government initiatives like Production Linked Incentiveschemes and the Make in India push. Over the past few years, India-based manufacturing companies have been increasingly incorporating digital and Industry 4.0 into their processes becoming more efficient, productive and competitive, with improvements in quality as well. This could potentially open up a larger domestic market for them as well as provide increased export opportunities, and that augurs well for the sector.” 

Other details:-

-Offer for Sale of Units of the Mirae Asset Nifty India Manufacturing ETF will be at 1/100th value of the Nifty India Manufacturing closing Index as on the date of allotment for applications received during the New Fund Offer (“NFO”) period and at approximately indicative NAV based prices (along with applicable charges and execution variations) during the Ongoing Offer for applications directly received at AMC.

- Offer for units of Mirae Asset Nifty India Manufacturing ETF FOF will beRs. 10/- each during the New Fund Offer and continuous offer for units at NAV based prices.

(Mutual fund investments are subject to market risks, read all scheme related documents carefully.)