Mirae Asset Mutual Fund, one of the fastest-growing fund houses in India, today announced the launch of Mirae Asset Gold ETF. Mirae Asset ETF is a part of Mirae Asset Mutual Fund and is used for Exchange Traded Funds managed by Mirae Asset Investment Managers (India) Private Limited.
The New Fund Offer (NFO) opens on February 9, 2023, and closes on February 15, 2023. The allotment date is February 20, 2023, and the first NAV (Net Asset Value) date is February 21, 2023. ETF Listing will be done on the stock exchanges within five working days from the date of allotment. Investors can buy and sell units of the ETF from February 21, 2023, on stock exchanges where the ETF will get listed. The fund will be managed by the fund manager, Mr. Ritesh Patel of Mirae Asset Mutual Fund. During the NFO, an investor can invest a minimum of Rs 5,000 or any quantum above that in multiples of Re.1
In 2023, Inflation and central bank intervention through policy rates may be considered as the key Gold Driver in 2023. The launch comes at a time when external global dynamics create challenges for the growth of the domestic and global economy making gold a relatively safe haven for investors. Gold can be assessed by investors as an important component of asset allocation.
Siddharth Srivastava, Head - ETF Product, Mirae Asset Mutual Fund said, “Historically, Gold has increased risk-adjusted returns in a portfolio during recessionary phases & economic downturns. Gold retains its purchasing power when the cost of goods rises, as gold as performed historically well during the times of inflation. In the current uncertain and volatile market environment, investing in Gold ETF, seems to be a reasonable option for portfolios from long term point of view”.
Mirae Asset Gold ETF intends to track the performance of the domestic price of physical Gold. Each unit of the ETF will represent roughly around .01 grams of Gold. An investor who wants to take exposure in Gold can invest via Mirae Asset Gold ETF, further explained Srivastava.
For further information about other schemes (Type of scheme, product labelling and performance of the fund) please visit the website of the AMC: www.miraeassetmf.co.in
*Note: The Product Labelling assigned during the NFO is based on internal assessment of the scheme characteristics or model portfolio and the same may vary post NFO when the actual investments are made.
*Investors should consult their financial advisors if they are not clear about the suitability of the product
Investors understand that their principal will be at High Risk
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.