Publish Date:
Mirae Asset Mutual Fund has launched a new scheme - Mirae Asset Hang Seng TECH ETF Fund of Fund.
It is an open-ended fund of fund scheme predominantly investing in units of Mirae Asset Hang Seng TECH 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 Hang Seng TECH 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 Hang Seng TECH 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 Hang Seng TECH ETF Fund of Fund will predominantly invest in units of Mirae Asset Hang Seng TECH 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. The cumulative gross exposure through Units of Mirae Asset Hang Seng TECH ETF, Money market instruments / debt securities, Instruments and/or units of debt/liquid schemes of domestic Mutual Funds shall not exceed 100% of the net assets of the Scheme.
The scheme’s performance will be benchmarked against Hang Seng TECH Index Total Return Index (TRI) (INR).
It will be managed by Ms Ekta Gala.
The NFO opens for subscription on November 17, 2021 and closes on December 01, 2021. The scheme will reopen for continuous Sale and Repurchase from December 09, 2021.
The fund NAV is priced at Rs 10/- per unit during the NFO period. The minimum subscription amount is Rs 5,000 and in multiples of Re 1 thereafter.
The fund offers Regular Plan and Direct Plan having Growth Option under both the plans.