Mutual Fund NFO: Mirae AMC starts subscription for its Asset Nifty Smallcap 250 Momentum Quality 100 ETF fund; know close date, minimum investment, other details

Mutual Fund NFO: Mirae AMC on Monday (February 12, 2024) started subscription for its new index mutual fund-Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF. The open ended index fund will invest in growth companies which are in a relatively early stage and have high growth prospects. The fund's exposure will be in the segment/theme which are adequately present in large- and mid-cap space.

Describing its objectives in the fund, Mirae AMC said, "The investment objective of the scheme is to generate returns, before expenses, that are commensurate with the performance of the Nifty Smallcap 250 Momentum Quality 100 Total Return Index, subject to tracking error."

Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF: Close and allotment date

The close date for the subscription of the Mirae fund is February 21, while the allotment date is also February 21.

Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF: Minimum Investment

Investors seeking investment in Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF can have a minimum of Rs. 5000 investment and in multiples of Re1 thereafter.

The AMC says that for additional purchase, the minimum amount is Rs 1,000 and in multiples of Re 1 thereafter. While the minimum SIP amount is Rs 500 and in multiples of Re 1 thereafter. 

Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF: Benchmark

The benchmark for Mirae AMC's new mutual fund is Nifty Smallcap 250 Momentum Quality 100 Total Return Index.

Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF: Fund Manager

Vishal Singh and Ekta Gala are the fund managers for the newly launched fund from Mirae AMC.

Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF: Entry and Exit Load

The exit load for the fund is 0.01 per cent, which means one has to pay 0.01 per cent of the total NAV sell value if they sell NAVs before 365 days.

Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF: Stamp Duty

As per SEBI, 0.005 per cent stamp duty will be levied on purchase of mutual funds, including lump sum, SIP, STP, and dividend reinvestment.