Publish Date:
Mirae Asset Mutual Fund has launched a new scheme - Mirae Asset NYSE FANG+ETF Fund of Fund.
It is an open-ended fund of fund scheme predominantly investing in Mirae Asset NYSE FANG+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 NYSE FANG+ 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 NYSE FANG+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 NYSE FANG+ETF Fund of Fund will invest in the units of Mirae Asset NYSE FANG+ ETF managed by Mirae Asset Mutual Fund as per the above stated asset allocation. The cumulative gross exposure through Units of Mirae Asset NYSE FANG+ 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 NYSE FANG+ Total Return Index (TRI) (INR).
It will be managed by Ms Ekta Gala.
The NFO opens for subscription on April 19, 2021 and closes on May 03, 2021. The scheme will reopen for continuous Sale and Repurchase from May 11, 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.