Publish Date:
Mirae Asset Mutual Fund has launched – Mirae Asset Nifty 100 Low Volatility 30 ETF.
It is an open-ended scheme replicating/tracking Nifty 100 Low Volatility 30 Total Return Index.
Accordingly, the investment objective of the scheme is to generate returns, before expenses, that are commensurate with the performance of the Nifty 100 Low Volatility 30 Total Return Index, subject to tracking error. The Scheme does not guarantee or assure any returns.
Under normal circumstances, Mirae Asset Nifty 100 Low Volatility 30 ETF will hold an allocation of 95% to 100% of its assets in Securities included in the Nifty 100 Low Volatility 30 Index and 0% to 5% in Money market instruments / debt securities, Instruments and/or units of debt/liquid schemes of domestic Mutual Funds.
As per the Scheme Information Document, Mirae Asset Nifty 100 Low Volatility 30 ETF will invest in a basket of securities forming part of Nifty 100 Low Volatility 30 Index in similar weight proportion.
The investment strategy would revolve around reducing the tracking error to the least possible through regular rebalancing of the portfolio, considering the change in weights of stocks in the Index as well as the incremental collections/redemptions in the Scheme. A part of the funds may be invested in debt and money market instruments, to meet the liquidity requirements. Subject to the Regulations and the applicable guidelines the Scheme may invest in the schemes of Mutual Funds.
Mirae Asset Nifty 100 Low Volatility 30 ETF’s performance will be benchmarked against Nifty 100 Low Volatility 30 TRI (Total Return Index).
The scheme will be managed by Mr Ekta Gala.
The NFO opens for subscription on March 13, 2023, and closes on March 21, 2023. The schemes will reopen for continuous sale and repurchase on March 27, 2023.
The fund’s NAV is priced at Rs 10- per unit during the NFO period. The minimum subscription amount is Rs 5,000/- and in multiples of any amount thereafter.
Currently, the scheme does not offer any Plans/Options for investment.