Publish Date:
Mirae Asset Mutual Fund has launched Mirae Asset Nifty200 Alpha 30 ETF Fund of Fund
It is an open-ended fund of fund scheme investing in units of Mirae Asset Nifty200 Alpha 30 ETF.
While passive funds generally don't target alpha, it's worth noting that the first half of 2024 saw strong performance across many passive funds in India. Some even delivered alpha-like returns. However, if you are interested in alpha-like returns from passive funds, it's important to understand the specific strategy and risks involved.
The investment objective of the Mirae Asset Nifty200 Alpha 30 ETF FOF is to provide long-term capital appreciation from a portfolio investing in units of Mirae Asset Nifty200 Alpha 30 ETF. There is no assurance that the investment objective of the Scheme will be achieved.
Under normal circumstances, Mirae Asset Nifty200 Alpha 30 ETF FOF will hold an allocation of 95% to 100% in Units of Mirae Asset Nifty200 Alpha 30 ETF and 0% to 5% in Money market instruments / debt securities, Instruments and/or units of debt/liquid schemes of domestic Mutual Funds.
[Read: Are Your Equity Mutual Funds Generating Alpha Returns?]
Mirae Asset Nifty200 Alpha 30 ETF FOF will invest in units of Mirae Asset Nifty200 Alpha 30 ETF. Investments made from the net assets of the Scheme would be in accordance with the investment objective of the Scheme and the provisions of the SEBI (MF) Regulations.
(Source: PPT- Mirae Asset Nifty200 Alpha 30 ETF FOF)
The Nifty200 Alpha 30 index consist of 30 stocks which are selected from its parent Nifty 200 index based on ‘Jensen’s Alpha’. The weight of stocks in the index is based on their alpha scores.
Top 10 Holdings and sector allocation under the Nifty200 Alpha 30 Index:
(Source: NSE, Indices)
Mirae Asset Nifty200 Alpha 30 ETF FOF is benchmarked against the Nifty200 Alpha 30 TRI
Mirae Asset Nifty200 Alpha 30 ETF FOF will be managed by Ms Ekta Gala and Mr Vishal Singh
Mirae Asset Nifty200 Alpha 30 ETF FOF is open for subscription from July 08, 2024 to July 22, 2024. The fund will reopen for continuous sale and repurchase on July 29, 2024.
The fund offers Direct Plan and Regular Plan. Under each plan the fund offers Growth option and Income Distribution cum Capital Withdrawal.
The minimum subscription amount is Rs 5,000/- and in multiples of Re. 1 thereafter.