Mumbai (Maharashtra) [India], January 10 (ANI/PRNewswire): Mirae Asset Mutual Fund, one of the fastest growing fund houses in India, today announced the launch of '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.
Key Highlights:Allows investors the opportunity to participate in potential emerging segments like Electric Vehicles, Electronics, Battery Tech, Defense etc.
The Nifty India Manufacturing Index aims to track the performance of stocks that represent manufacturing sectors in IndiaNifty India Manufacturing Index has outperformed Nifty 500 Index during period of economy recoverymake in India push ^Nifty India Manufacturing Index has outperformed NIFTY 50 Index, in last 6 out of 8 calendar years (including 2021 YTD) ^Portfolio covers majority of sectors where government aims to provide around Rs 2Tn incentive for capacity expansion which may contribute to significant growth.
"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 Swarup Mohanty, DirectorCEO, 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.
^ Source: Data as on Nov 30, 2021. National Stock Exchange (NSE). Past performance may or may not sustain in future. The index return is in Total Return Variant. The data shown above pertains to the Index and does not in manner indicate performance of any scheme of the Fund.
Mirae Asset Global Investments (India) Private Limited ("MAGI India") has transferred its asset management business to its wholly owned subsidiary, Mirae Asset Investment Managers (India) Private Limited ("Mirae AMC"), as part of internal restructuring of its business with effect from January 1, 2020. Over the last 2 decades Mirae Asset Global Investments Ltd. (the sponsor) has become one of the world's largest investors in emerging market equities, managing total assets of over USD 217.9 billion as on 30th September 2021. Headquartered in South Korea, Mirae Asset Global Investments Ltd also has investment management operations in Hong Kong, United Kingdom, India, Vietnam, USA, Canada, Taiwan and Brazil. Apart from Asset Management, Mirae Asset Financial Group has business interest in Life Insurance, Securities and InvestmentVenture Capital.
DISCLAIMERSPRODUCT LABEL:MIRAE ASSET NIFTY INDIA MANUFACTURING ETF(An open-ended scheme replicating/tracking Nifty India Manufacturing Total Return Index)New Fund Offer open on: 10/01/2022closes on: 20/01/2022 | Scheme re-opens for continuous Sale and Repurchase from 31/01/2022Product labelling-Mirae Asset Nifty India Manufacturing ETF is suitable for investors who are seekingReturns that are commensurate with the performance of the Nifty India Manufacturing Total Return Index subject to tracking error over long termInvestments in equity securities covered by Nifty India Manufacturing Total Return IndexInvestors should consult their financial advisors if they are not clear about the suitability of the productMIRAE ASSET NIFTY INDIA MANUFACTURING ETF FUND OF FUND(An open-ended fund of fund scheme predominantly investing in Mirae Asset Nifty India Manufacturing ETF.)New Fund Offer open on: 10/01/2022closes on: 24/01/2022 | Scheme re-opens for continuous Sale and Repurchase from 01/02/2022.
Mirae Asset Nifty India Manufacturing ETF Fund of Fund is suitable for investors who are seekingTo generate long term capital appreciation/incomeInvestments predominantly in units of Mirae Asset Nifty India Manufacturing ETFInvestors should consult their financial advisers if they are not clear about the suitability of the productFor further Index, BSE/NSEother disclaimers scan the QR Code:Link for QR Code-Mutual fund investments are subject to market risks, read all scheme related documents carefully.
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