Mirae Asset Nifty EV and New Age Automotive ETF NFO: Key details you need to know

24 Jun 2024 , 12:21 PM

Mirae Asset Mutual Fund is launching NFO under its “Other Fund”, named as Mirae Asset Nifty EV and New Age Automotive ETF. The open ended fund aims to generate returns, before expenses, that are commensurate with the performance of the Nifty EV and New Age Automotive Index, subject to tracking error.

Investment strategy: The investment strategy of the Scheme will be to invest in a basket of securities forming part of Nifty EV and New Age Automotive Index in similar weight proportion.

Asset allocation: The Scheme will invest predominantly in equity and equity related instrument, debt instrument and money market securities.

Who should invest?

Investors with very high risk appetite and want to invest in special situations theme should invest in the Mirae Asset Nifty EV and New Age Automotive ETF for 5 or more years.

Risk associated: Very high level of risk.

Benchmark: Nifty EV and New Age Automotive Total Return Index

Fund Managers: Ekta Gala,

The NFO is available for subscription from June 24 to July 05. 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 ₹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 EV and New Age Automotive ETF.