The New Fund Offer (NFO) for Mirae Asset Nifty Total Market Return Index Fund will open for subscription on October 08, 2024 and close on October 22, 2024.
FinTech BizNews Service
Mumbai, October 07, 2024: Mirae Asset Investment Managers (India) Pvt. Ltd. announces the launch of ‘Mirae Asset Nifty Total Market Index Fund’, an open-ended scheme replicating/ tracking Nifty Total Market Total Return Index, offering exposure to 750 companies across various market cap segments.
The Nifty Total Market Index provides a comprehensive representation of the Indian equity market, offering exposure to large, mid, small, and micro-cap segments. This diversified approach may help investors capture growth opportunities across the evolving landscape of the Indian equity market.
India’s market attractiveness may continue to rise as it is expected to become the world’s third-largest economy by 2028. (Source: Data as on FY24, World Bank Group, Trading Economic). As market dynamics evolve, the Mirae Asset Nifty Total Market Index Fund seeks to capture the opportunities presented across various sectors and market caps. Key sectors such as banking, IT, pharmaceuticals, focus sectors like manufacturing, infrastructure and emerging industries like fintech and digital entertainment are captured from different market cap segments in this fund with an aim to provide investors with potential opportunities for market cap and sectoral diversification and risk management.
The New Fund Offer (NFO) for Mirae Asset Nifty Total Market Return Index Fund will open for subscription on October 08, 2024 and close on October 22, 2024. The scheme re-opens for continuous sale and repurchase on October 29, 2024. The scheme will be managed by Ms. Ekta Gala and Mr. Vishal Singh.
In the scheme, the minimum initial investment during NFO will be Rs 5,000/- (Rupees Five Thousand) with subsequent investments being multiples of Re 1.
Announcing the NFO, Mr. Siddharth Srivastava, Head-ETF Product, Mirae Asset Investment Managers (India) Pvt. Ltd., added, "The Indian economy’s and stock market’s growth trajectory has led to the evolution of stock and sectoral composition of market cap segments with numerous opportunities existing across the board, and the Mirae Asset Nifty Total Market Index Fund seeks to allow investors to participate in this dynamic journey across large, mid, small and micro-cap segments, in a single diversified fund. The new fund aims to capture opportunities across sectors, from established to emerging, present across market cap segments, providing a comprehensive approach to wealth creation over the long term."
