Mirae Asset Mutual Fund, one of the fastest growing fund houses in India which invests in the equities and debt segments, today 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.
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. Both the schemes will be managed by Ms. Ekta Gala.
The minimum initial investment in both the schemes will be Rs 5,000 and multiples of Re 1 thereafter.
“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 for India, backed by strong government initiatives like Production Linked Incentive schemes 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,” said Mr. Swarup Mohanty, Director & CEO, Mirae Asset Investment Managers (India) Pvt. Ltd.
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 be Rs. 10/- each during the New Fund Offer and continuous offer for units at NAV based prices.
For further information, contact:
Rajesh Joshi
The Good Edge
rajesh@thegoodedge.com
M: +91-9833171525
(An open-ended scheme replicating/tracking Nifty India Manufacturing Total Return Index)
New Fund Offer opens on: 10/01/2022 & closes on: 20/01/2022 | Scheme re-opens for continuous Sale and
Repurchase from 31/01/2022
(An open-ended fund of fund scheme predominantly investing in Mirae Asset Nifty India Manufacturing ETF.)
New Fund Offer opens on: 10/01/2022 & closes on: 24/01/2022 | Scheme re-opens for continuous Sale and
Repurchase from 01/02/2022.
Mutual fund investments are subject to market risks, read all scheme related documents carefully.