Publish Date:
Mirae Asset Mutual Fund has launched a new scheme - Mirae Asset ESG Sector Leaders Fund of Fund.
It is an open-ended fund of fund scheme predominantly investing in Mirae Asset ESG Sector Leaders ETF.
Accordingly, the investment objective of the scheme is to provide long-term capital appreciation from a portfolio investing predominantly in units of Mirae Asset ESG Sector Leaders ETF. There is no assurance that the investment objective of the Scheme will be realized.
Under normal circumstances, 95% to 100% of the funds portfolio will be invested in Units of Mirae Asset ESG Sector Leaders ETF.
It can invest up to 5% of its assets in Money market instruments / debt securities, Instruments and/or units of debt/liquid schemes of domestic Mutual Funds.
Mirae Asset ESG Sector Leaders Fund of Fund will predominantly invest in units of Mirae Asset ESG Sector Leaders ETF, the portfolio of which shall mostly be based on stocks forming part of Nifty100 ESG Sector Leaders Index.
The fund will indirectly benefit from underlying exposure to stocks scoring high on Environmental, Social & Governance parameters.
Notably, the underlying Mirae Asset ESG Sector Leaders ETF endeavors to track the Nifty100 ESG Sector Leaders Index that carries a portfolio of select large cap stocks within each sector performing well on ESG parameters.
The scheme’s performance will be benchmarked against Nifty100 ESG Sector Leaders Total Return Index.
It will be managed by Ms Bharti Sawant.
The NFO opens for subscription on October 27, 2020 and closes on November 10, 2020. The scheme will reopen for continuous Sale and Repurchase from November 19, 2020.
The fund NAV is priced at Rs 10/- per unit during the NFO period. The minimum subscription amount is Rs 1,000 and in multiples of Re 1 thereafter.
The fund offers Regular Plan and Direct Plan having Growth Option and Dividend Option (Dividend Re-investment and Dividend Pay-out facilities)