Mirae Asset Investment Managers (India) on Tuesday launched an open-ended scheme that will replicate and track the Nifty Total Market Total Return Index, providing customers a chance to invest in 750 companies across various market capitalisation segments.
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The Mirae Asset Nifty Total Market Index Fund seeks to capture the “entirety of India’s equity market landscape”, including large, mid, small and microcap segments, said the company. The approach is designed to offer investors a diversified portfolio that reflects the evolving dynamics of the Indian economy.
“The Indian economy 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,” said Siddharth Srivastava, head-ETF Product, Mirae Asset Investment Managers (India), in a statement.
“The Mirae Asset Nifty Total Market Index Fund is positioned to capture opportunities across a wide range of sectors, from established industries like banking, IT and pharmaceuticals to emerging sectors such as fintech and digital entertainment. This broad exposure is intended to provide investors with potential for market cap and sectoral diversification, as well as risk management,” it said.
Here is detail about Mirae Asset Nifty Total Market Index Fund
Type: It is an open-ended fund
Benchmark: Nifty Total Market Total Return Index
Category: Equity: Flexi Cap
Fund opening date: 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.
Minimum investment: The minimum initial investment during NFO will be Rs 5,000 with subsequent investments being multiples of Re 1.
Lock-in period: There is no lock-in period.
Exit Load: There is no exit load
Fund manager: The scheme will be managed by Ekta Gala and Vishal Singh.
First Published: Oct 08 2024 | 12:52 PM IST
