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Mirae Asset Nifty Bank ETF NFO: Key details you need to know

12 Jul 2023 , 11:14 AM

Mirae Asset Mutual Fund is launching NFO under its “ETF category”, named as Mirae Asset Nifty Bank ETF. This open-ended fund aims to generate returns, before expenses, that are commensurate with the performance of the Nifty Bank Total Return Index, subject to tracking error.

Investment strategy: The investment strategy would revolve around reducing the tracking error to the least possible through regular rebalancing of the portfolio, considering the change in weights of stocks in the Index as well as the incremental collections/redemptions in the Scheme. A part of the funds may be invested in debt and money market instruments, to meet the liquidity requirements.

Asset allocation: The Scheme would invest in stocks constituting the Nifty Bank Index in the similar proportion (weightage) as in the Index and endeavor to track the benchmark index.

Who should invest?

Investors with very high risk appetite and want to invest for 5 to 7 years in a mutual fund should invest in Mirae Asset Nifty Bank ETF. 

Risk associated: Very high level of risk.

Benchmark: Nifty Bank Total Return Index

Fund Managers: Ms. Ekta Gala.

The NFO is available for subscription from July 12 to July 18. The schemes will reopen for continuous sale and repurchase within five Business Days from the date of allotment. The fund offers systematic investment solutions like SIP and SWP to create a flexible investment plan. The minimum subscription amount is Rs 5000/- and in multiples of any amount thereafter. 

It offers Regular Plan and Direct Plan. Each plan offers Growth and Income options. Click here to invest in Mirae Asset Nifty Bank ETF.

Mirae Asset Nifty Bank ETF

Related Tags

  • Mirae Asset Nifty Bank ETF
  • Mirae Asset Nifty Bank ETF nfo
  • NFO
  • nifty etf
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